Live Nation Entertainment, Inc. (NYSE:LYV) Holdings Increased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354 shares of the company’s stock after acquiring an additional 251 shares during the period. Brown Brothers Harriman & Co.’s holdings in Live Nation Entertainment were worth $175,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LYV. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment during the fourth quarter valued at about $40,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $42,000. Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $44,000. Independence Bank of Kentucky bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $45,000. Finally, Morse Asset Management Inc acquired a new stake in Live Nation Entertainment during the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Benchmark restated a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Insider Activity

In related news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 over the last three months. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $130.71 on Tuesday. The firm’s 50 day simple moving average is $138.04 and its 200 day simple moving average is $129.07. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a market capitalization of $30.51 billion, a price-to-earnings ratio of 48.06, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, sell-side analysts forecast 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.