OVERSEA CHINESE BANKING Corp Ltd Takes $1.36 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,475 shares of the company’s stock, valued at approximately $1,357,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amundi increased its position in Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC increased its position in Live Nation Entertainment by 595.3% in the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after purchasing an additional 33,980 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Live Nation Entertainment in the fourth quarter worth about $226,000. Charles Schwab Investment Management Inc. increased its position in Live Nation Entertainment by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after purchasing an additional 107,844 shares during the period. Finally, Empowered Funds LLC increased its position in Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock worth $1,898,000 after purchasing an additional 13,815 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYV. Benchmark restated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Guggenheim boosted their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Roth Mkm boosted their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Morgan Stanley boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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 the business’s stock in a transaction that occurred 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 transaction, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Up 2.8 %

NYSE LYV opened at $122.51 on Thursday. The stock has a market capitalization of $28.59 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 1.81 and a beta of 1.38. The stock’s 50 day moving average price is $139.01 and its two-hundred day moving average price is $127.12. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.