Live Nation Entertainment, Inc. $LYV Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 607,164 shares of the company’s stock after buying an additional 78,171 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.26% of Live Nation Entertainment worth $88,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.8% during the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after purchasing an additional 372,715 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares in the last quarter. Capital World Investors raised its stake in Live Nation Entertainment by 4.8% during the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after purchasing an additional 237,342 shares during the period. Massachusetts Financial Services Co. MA raised its position in Live Nation Entertainment by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock valued at $501,911,000 after buying an additional 212,592 shares during the period. Finally, Norges Bank acquired a new position in Live Nation Entertainment during the second quarter valued at $198,336,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research analyst reports. Evercore reissued an “outperform” rating and issued a $198.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Zacks Research lowered Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Finally, Rothschild & Co Redburn raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the company from $166.00 to $193.00 in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.67.

Live Nation Entertainment Stock Up 2.6%

LYV opened at $152.62 on Wednesday. The firm has a market cap of $35.84 billion, a P/E ratio of -635.93 and a beta of 1.11. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $153.02 and a 200 day moving average price of $148.91. Live Nation Entertainment, Inc. has a twelve month low of $113.20 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director directly owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.