Vanguard Group Inc. Has $2.48 Billion Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Vanguard Group Inc. lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,169,852 shares of the company’s stock after selling 48,735 shares during the period. Vanguard Group Inc. owned 0.08% of Live Nation Entertainment worth $2,482,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LYV. Amundi boosted its position in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after buying an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth $226,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after purchasing an additional 107,844 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $754,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Roth Mkm increased their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Guggenheim boosted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.27.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Stock Up 0.1 %

Shares of LYV stock opened at $127.15 on Wednesday. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $138.58 and a 200 day moving average price of $128.19. The stock has a market cap of $29.68 billion, a P/E ratio of 46.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.