Live Nation Entertainment, Inc. $LYV Shares Acquired by Resources Management Corp CT ADV

Resources Management Corp CT ADV increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 280.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,441 shares of the company’s stock after acquiring an additional 5,483 shares during the period. Resources Management Corp CT ADV’s holdings in Live Nation Entertainment were worth $1,060,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after acquiring an additional 372,715 shares during the period. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after buying an additional 1,001,905 shares during the period. Capital World Investors increased 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 buying an additional 237,342 shares during the period. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after buying an additional 20,165 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after buying an additional 123,800 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LYV shares. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Guggenheim raised their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wolfe Research raised their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Bank of America raised their target price on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Evercore reissued an “outperform” rating and set a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Live Nation Entertainment Stock Down 0.1%

LYV stock opened at $172.35 on Monday. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $175.25. The firm has a market cap of $40.60 billion, a PE ratio of -97.37 and a beta of 1.12. The firm has a 50 day simple moving average of $162.57 and a 200 day simple moving average of $152.92. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88.

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 firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business earned ($0.32) earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

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.