Allstate Corp Makes New $612,000 Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Allstate Corp acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,727 shares of the company's stock, valued at approximately $612,000.

A number of other large investors also recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $40,000. Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $42,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LYV. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Macquarie raised their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Benchmark reaffirmed a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Bank of America upped their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Finally, Guggenheim lifted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $160.33.

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Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % 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 valued at $10,497,143. Insiders own 2.72% of the company's stock.

Live Nation Entertainment Trading Down 6.6 %

NYSE LYV traded down $8.85 during mid-day trading on Thursday, reaching $125.80. 3,395,038 shares of the stock were exchanged, compared to its average volume of 2,238,679. The stock has a market capitalization of $29.36 billion, a PE ratio of 46.25, a PEG ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The business's fifty day simple moving average is $137.55 and its 200 day simple moving average is $129.32.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.