4,727 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Allstate Corp

Allstate Corp purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,727 shares of the company’s stock, valued at approximately $612,000.

Several other large investors have also recently made changes to their positions in the business. World Investment Advisors LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth $38,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth about $40,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $42,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at about $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYV has been the subject of several recent research reports. Bank of America boosted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Roth Mkm raised their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Macquarie raised their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $160.33.

Live Nation Entertainment Price Performance

LYV opened at $131.94 on Wednesday. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 48.51, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a fifty day simple moving average of $137.90 and a two-hundred day simple moving average of $129.30.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly 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 net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value 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 represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock worth $10,497,143 in the last 90 days. Insiders own 2.72% of the company’s stock.

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.