Treasurer of the State of North Carolina Has $8.99 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Treasurer of the State of North Carolina increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,443 shares of the company’s stock after purchasing an additional 440 shares during the period. Treasurer of the State of North Carolina’s holdings in Live Nation Entertainment were worth $8,993,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYV. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment in the 4th quarter valued at about $40,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $42,000. Retirement Wealth Solutions LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth $44,000. Independence Bank of Kentucky bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $45,000. Finally, Morse Asset Management Inc acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.2 %

Shares of NYSE LYV opened at $129.52 on Monday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day moving average price of $134.59 and a 200-day moving average price of $130.63. The stock has a market capitalization of $30.23 billion, a P/E ratio of 47.62, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on LYV shares. Roth Mkm lifted their price objective 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. Morgan Stanley increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, Benchmark reissued a “buy” rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Rowles sold 63,136 shares of the business’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 transaction, the executive vice president now directly owns 195,346 shares in the company, 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 three months, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by insiders.

Live Nation Entertainment 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.