M&T Bank Corp boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,885 shares of the company's stock after buying an additional 3,145 shares during the quarter. M&T Bank Corp's holdings in Live Nation Entertainment were worth $1,280,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in LYV. Brooklyn Investment Group bought a new position in Live Nation Entertainment during the 3rd quarter worth approximately $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment during the 3rd quarter worth approximately $42,000. Golden State Wealth Management LLC bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment during the 4th quarter worth approximately $44,000. Institutional investors own 74.52% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on LYV. Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Macquarie lifted their price objective on shares of 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 restated a "buy" rating and set a $160.00 price target on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Rosenblatt Securities restated a "buy" rating and set a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, Roth Mkm boosted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.27.
Check Out Our Latest Research Report on LYV
Insider Activity
In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.72% of the company's stock.
Live Nation Entertainment Stock Performance
Shares of NYSE:LYV traded down $1.30 during midday trading on Tuesday, reaching $121.49. The company had a trading volume of 2,997,830 shares, compared to its average volume of 2,117,467. The company's 50 day moving average price is $140.14 and its 200 day moving average price is $126.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $28.36 billion, a P/E ratio of 44.67, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Live Nation Entertainment Company Profile
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Free Report)
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.
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