Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 77.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,198 shares of the company's stock after acquiring an additional 14,928 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Live Nation Entertainment were worth $3,201,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia grew its position in Live Nation Entertainment by 6.9% during the third quarter. Bank of Nova Scotia now owns 560,768 shares of the company's stock valued at $46,566,000 after acquiring an additional 36,298 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Live Nation Entertainment in the 4th quarter worth $1,151,000. Cary Street Partners Investment Advisory LLC lifted its stake in Live Nation Entertainment by 9,800.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company's stock worth $41,000 after purchasing an additional 490 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Live Nation Entertainment by 46.3% during the fourth quarter. DAVENPORT & Co LLC now owns 1,141,272 shares of the company's stock valued at $107,008,000 after buying an additional 361,103 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Live Nation Entertainment by 5.1% during the third quarter. Deutsche Bank AG now owns 593,720 shares of the company's stock valued at $49,303,000 after buying an additional 28,620 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Live Nation Entertainment Trading Down 2.4 %
LYV stock traded down $2.18 during trading on Thursday, reaching $89.64. The company had a trading volume of 3,437,733 shares, compared to its average volume of 2,291,663. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 52 week low of $64.96 and a 52 week high of $107.24. The business has a 50 day moving average of $98.97 and a 200 day moving average of $91.36. The company has a market cap of $20.69 billion, a P/E ratio of 67.83 and a beta of 1.30.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on LYV. Rosenblatt Securities lowered their target price on Live Nation Entertainment from $124.00 to $119.00 and set a "buy" rating for the company in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. Roth Mkm raised shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating and raised their price target for the stock from $92.00 to $114.00 in a report on Friday, January 12th. Roth Capital upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a research report on Thursday, January 11th. Finally, TD Cowen reiterated a "buy" rating and set a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.70.
Check Out Our Latest Stock Report on Live Nation Entertainment
Insider Buying and Selling at Live Nation Entertainment
In other news, Director Jeffrey T. Hinson sold 1,001 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company's stock, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.85% of the company's stock.
About Live Nation Entertainment
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Free Report)
Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.
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