Prudential Financial Inc. Has $10.43 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Prudential Financial Inc. reduced its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 80,532 shares of the company’s stock after selling 10,770 shares during the quarter. Prudential Financial Inc.’s holdings in Live Nation Entertainment were worth $10,429,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LYV. Amundi increased its holdings in Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC boosted 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 valued at $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $226,000. Charles Schwab Investment Management Inc. lifted its position in shares of Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after purchasing an additional 48,949 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $754,000. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other news, 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 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 $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment 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 owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last three months. 2.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Bank of America upped their target price 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. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Roth Mkm increased their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted 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. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Trading Down 2.4 %

NYSE:LYV opened at $125.05 on Friday. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a market cap of $29.19 billion, a PE ratio of 45.97, a PEG 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. The firm has a 50-day moving average of $138.14 and a 200-day moving average of $128.39.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $5.67 billion. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.