NEOS Investment Management LLC Raises Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

NEOS Investment Management LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 26.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,954 shares of the company’s stock after acquiring an additional 1,239 shares during the quarter. NEOS Investment Management LLC’s holdings in Live Nation Entertainment were worth $771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYV. Smartleaf Asset Management LLC lifted its stake in shares of Live Nation Entertainment by 17.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after buying an additional 75 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP grew its holdings in Live Nation Entertainment by 10.4% during the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after buying an additional 82 shares in the last quarter. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after buying an additional 93 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Live Nation Entertainment by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after buying an additional 93 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the business’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 transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last 90 days. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $125.05 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock 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’s fifty day moving average is $138.14 and its 200 day moving average is $128.84. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Guggenheim lifted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Roth Mkm upped their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.27.

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.