Corient Private Wealth LLC Decreases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Corient Private Wealth LLC reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,905 shares of the company’s stock after selling 3,849 shares during the quarter. Corient Private Wealth LLC’s holdings in Live Nation Entertainment were worth $3,614,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after purchasing an additional 87,032 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 7.3% in the third quarter. Mutual of America Capital Management LLC now owns 19,281 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,320 shares during the period. Caprock Group LLC boosted its stake in shares of Live Nation Entertainment by 5.7% in the third quarter. Caprock Group LLC now owns 4,693 shares of the company’s stock valued at $514,000 after purchasing an additional 253 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Live Nation Entertainment in the third quarter valued at $441,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Live Nation Entertainment by 23.3% in the third quarter. PNC Financial Services Group Inc. now owns 21,022 shares of the company’s stock valued at $2,302,000 after purchasing an additional 3,976 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Guggenheim upped their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America upped their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Roth Mkm upped their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Up 0.6 %

LYV stock opened at $122.93 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The firm’s 50-day simple moving average is $138.74 and its 200 day simple moving average is $127.49. The stock has a market cap of $28.69 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping 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 business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock valued at $10,497,143 in the last quarter. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment 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.