abrdn plc Increases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

abrdn plc boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 70.8% in the 4th quarter, Holdings Channel reports. The fund owned 64,848 shares of the company’s stock after acquiring an additional 26,877 shares during the quarter. abrdn plc’s holdings in Live Nation Entertainment were worth $6,070,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC boosted its holdings in Live Nation Entertainment by 14.5% in the 3rd quarter. CWM LLC now owns 1,948 shares of the company’s stock valued at $162,000 after purchasing an additional 246 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at about $236,000. Caprock Group LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at about $221,000. Czech National Bank boosted its holdings in Live Nation Entertainment by 45.4% in the 3rd quarter. Czech National Bank now owns 24,780 shares of the company’s stock valued at $2,058,000 after purchasing an additional 7,743 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Live Nation Entertainment by 6.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,855 shares of the company’s stock valued at $901,000 after purchasing an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Trading Up 1.5 %

NYSE LYV opened at $89.83 on Friday. The firm has a 50 day simple moving average of $98.87 and a 200-day simple moving average of $91.56. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment, Inc. has a one year low of $65.20 and a one year high of $107.24. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 67.54 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LYV shares. Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. TD Cowen reiterated a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Roth Mkm reiterated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Rosenblatt Securities dropped their target price on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.30.

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.