Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 552,163 shares of the company’s stock after buying an additional 98,142 shares during the quarter. Federated Hermes Inc. owned approximately 0.24% of Live Nation Entertainment worth $71,506,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Amundi increased its position in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in Live Nation Entertainment by 595.3% in the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after buying an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $226,000. Charles Schwab Investment Management Inc. lifted its holdings in Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after buying an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $754,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on LYV. Roth Mkm upped their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Benchmark reiterated a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Morgan Stanley lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $160.33.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction 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 sale, the director now directly owns 52,624 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 4.0 %

NYSE LYV opened at $121.00 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 capitalization of $28.24 billion, a P/E ratio of 44.48, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The firm has a 50-day moving average price of $137.16 and a 200 day moving average price of $129.83.

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

Live Nation Entertainment Company 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.