Live Nation Entertainment, Inc. $LYV Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 68.7% during the 4th quarter, Holdings Channel reports. The fund owned 179,242 shares of the company’s stock after acquiring an additional 72,998 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Live Nation Entertainment were worth $25,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in LYV. Empowered Funds LLC increased its position in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after acquiring an additional 547 shares during the period. EverSource Wealth Advisors LLC increased its position in Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares during the period. Cerity Partners LLC increased its position in Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after acquiring an additional 1,550 shares during the period. Daiwa Securities Group Inc. increased its position in Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after acquiring an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC increased its position in Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after acquiring an additional 1,711 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on LYV shares. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Rothschild & Co Redburn lifted their price target on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $190.00 to $192.00 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Live Nation Entertainment Stock Up 1.7%

Shares of LYV stock opened at $175.51 on Tuesday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $176.00. The stock has a market cap of $41.34 billion, a PE ratio of -99.16 and a beta of 1.12. The business’s fifty day moving average is $162.96 and its 200-day moving average is $153.24. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.32) earnings per share. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly 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 transaction was disclosed in a legal 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 on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents 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.

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.