Keystone Investors PTE Ltd. Acquires Shares of 29,076 Live Nation Entertainment, Inc. (NYSE:LYV)

Keystone Investors PTE Ltd. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 29,076 shares of the company’s stock, valued at approximately $3,765,000.

Several other institutional investors and hedge funds have also made changes to their positions in LYV. Amundi increased its position in Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after acquiring an additional 39,302 shares during the period. Wealthfront Advisers LLC lifted its holdings 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. bought a new position in Live Nation Entertainment in the 4th quarter valued at about $226,000. Charles Schwab Investment Management Inc. raised its position 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 worth $106,319,000 after buying 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 worth approximately $754,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $127.36 on Tuesday. The firm has a fifty day moving average price of $138.67 and a two-hundred day moving average price of $127.95. 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 debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $29.73 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, Guggenheim increased their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment 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 directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the company’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 in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last 90 days. 2.72% of the stock is owned by company insiders.

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.