Federated Hermes Inc. Takes $8.72 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Federated Hermes Inc. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 93,123 shares of the company's stock, valued at approximately $8,716,000.

Other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV grew its holdings in Live Nation Entertainment by 148.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company's stock worth $31,000 after acquiring an additional 200 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company's stock valued at $41,000 after buying an additional 490 shares during the period. Tobam acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $59,000. Finally, Headlands Technologies LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $88,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 1.3 %

NYSE:LYV traded down $1.16 on Thursday, hitting $88.49. 1,925,031 shares of the company's stock were exchanged, compared to its average volume of 2,279,239. The firm has a 50-day moving average price of $98.94 and a 200-day moving average price of $91.50. 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 company has a market cap of $20.42 billion, a P/E ratio of 66.53 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) 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 business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. As a group, analysts expect that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted 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. TD Cowen reissued a "buy" rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Roth Mkm reissued a "buy" rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Tuesday. Roth Capital raised shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a research note on Thursday, January 11th. Finally, Morgan Stanley upped their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $116.30.

Live Nation Entertainment Company Profile

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.