Allspring Global Investments Holdings LLC Sells 100,406 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Allspring Global Investments Holdings LLC reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 17.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,506 shares of the company's stock after selling 100,406 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.21% of Live Nation Entertainment worth $45,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Live Nation Entertainment in the fourth quarter worth $788,000. Signaturefd LLC increased its position in shares of Live Nation Entertainment by 41.0% during the 4th quarter. Signaturefd LLC now owns 1,045 shares of the company's stock valued at $98,000 after purchasing an additional 304 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Live Nation Entertainment during the 4th quarter valued at $799,000. Yousif Capital Management LLC boosted its stake in Live Nation Entertainment by 73.3% during the fourth quarter. Yousif Capital Management LLC now owns 33,877 shares of the company's stock worth $3,171,000 after buying an additional 14,328 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Live Nation Entertainment by 9.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,525 shares of the company's stock worth $424,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Roth Mkm reiterated a "buy" rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Friday, May 24th. Morgan Stanley reissued an "overweight" rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Finally, Redburn Atlantic raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and raised their price target for the stock from $114.00 to $115.00 in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.17.

Live Nation Entertainment Stock Performance

LYV stock traded up $0.45 during trading on Tuesday, hitting $96.59. 723,082 shares of the company traded hands, compared to its average volume of 2,134,362. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. The company has a market cap of $22.19 billion, a PE ratio of 91.22, a P/E/G ratio of 2.18 and a beta of 1.34. The stock's 50-day simple moving average is $93.93 and its 200 day simple moving average is $95.52. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ping Fu sold 1,701 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares of the company's stock, valued at $5,626,742.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ping Fu sold 1,701 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the transaction, the director now directly owns 15,128 shares of the company's stock, valued at $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold 8,201 shares of company stock worth $788,464 in the last ninety days. Company insiders own 2.85% of the company's stock.

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.