93,123 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Purchased by Federated Hermes Inc.

Federated Hermes Inc. acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 93,123 shares of the company’s stock, valued at approximately $8,716,000.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in Live Nation Entertainment by 5.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after acquiring an additional 429,650 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after purchasing an additional 33,215 shares in the last quarter. Findlay Park Partners LLP lifted its holdings in Live Nation Entertainment by 55.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after buying an additional 1,087,264 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Live Nation Entertainment by 5.7% in the third quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock worth $221,858,000 after acquiring an additional 144,326 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its stake in shares of Live Nation Entertainment by 52.8% in the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after acquiring an additional 726,000 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Down 0.5 %

LYV opened at $89.65 on Thursday. Live Nation Entertainment, Inc. has a one year low of $64.96 and a one year high of $107.24. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $20.69 billion, a P/E ratio of 67.41 and a beta of 1.30. The business’s 50-day simple moving average is $99.05 and its 200-day simple moving average is $91.53.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LYV shares. Morgan Stanley upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. TD Cowen reaffirmed a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $116.30.

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.