Legal & General Group Plc Has $115.44 Million Holdings in Live Nation Entertainment, Inc. $LYV

Legal & General Group Plc reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 810,111 shares of the company’s stock after selling 14,007 shares during the quarter. Legal & General Group Plc’s holdings in Live Nation Entertainment were worth $115,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of LYV. Leonteq Securities AG acquired a new position in Live Nation Entertainment during the 4th quarter valued at $25,000. Nvest Wealth Strategies Inc. acquired a new position in Live Nation Entertainment during the 4th quarter valued at $26,000. Ameriflex Group Inc. raised its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment during the 4th quarter valued at $30,000. Finally, Blue Trust Inc. raised its stake in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock valued at $40,000 after purchasing an additional 107 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LYV shares. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th. UBS Group raised their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Wolfe Research raised their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, Guggenheim raised their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.75.

Live Nation Entertainment Stock Up 0.3%

Shares of LYV stock opened at $167.05 on Friday. The stock has a market cap of $39.35 billion, a P/E ratio of -94.38 and a beta of 1.11. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $175.25. The stock has a fifty day moving average price of $159.41 and a 200 day moving average price of $150.46. 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 issued 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 the consensus estimate of $3.57 billion. During the same period last year, the business earned ($0.32) earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director directly owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the 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 sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 157,798 shares of company stock valued at $26,088,615. 2.89% of the stock is currently owned by company insiders.

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.