Corebridge Financial Inc. Acquires 6,392 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Corebridge Financial Inc. grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,161 shares of the company's stock after purchasing an additional 6,392 shares during the period. Corebridge Financial Inc.'s holdings in Live Nation Entertainment were worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Live Nation Entertainment in the third quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $44,000. Independence Bank of Kentucky purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $45,000. Finally, Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the business's 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 completion of the transaction, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 over the last 90 days. 2.72% of the stock is currently owned by company insiders.

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Live Nation Entertainment Stock Down 6.6 %

Shares of LYV stock traded down $8.85 on Thursday, hitting $125.80. The company's stock had a trading volume of 3,395,038 shares, compared to its average volume of 2,238,679. 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 stock has a market capitalization of $29.36 billion, a price-to-earnings ratio of 46.25, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The firm's fifty day moving average price is $137.55 and its 200-day moving average price is $129.32.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results 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. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on LYV shares. Morgan Stanley boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Macquarie boosted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Guggenheim boosted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, 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 report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $160.33.

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.