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

Allspring Global Investments Holdings LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 599,423 shares of the company’s stock after selling 7,741 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Live Nation Entertainment worth $91,490,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Leonteq Securities AG acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth $30,000. DV Equities LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $31,000. Finally, Blue Trust Inc. raised its holdings in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after buying an additional 107 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 0.3%

Shares of LYV opened at $180.31 on Friday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $42.47 billion, a price-to-earnings ratio of -101.87 and a beta of 1.11. The stock has a fifty day moving average price of $172.41 and a two-hundred day moving average price of $159.88. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $188.00.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LYV. Susquehanna raised their price objective on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Rothschild & Co Redburn raised their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.90.

Live Nation Entertainment Company 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.