Allspring Global Investments Holdings LLC Acquires 82,844 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Allspring Global Investments Holdings LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 17.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 570,350 shares of the company's stock after purchasing an additional 82,844 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.25% of Live Nation Entertainment worth $62,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its holdings in Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company's stock worth $728,000 after acquiring an additional 95 shares in the last quarter. Mystic Asset Management Inc. increased its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company's stock valued at $491,000 after purchasing an additional 110 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its holdings in Live Nation Entertainment by 3.2% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company's stock worth $360,000 after buying an additional 120 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of Live Nation Entertainment by 5.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company's stock worth $237,000 after buying an additional 130 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in shares of Live Nation Entertainment by 1.2% during the second quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company's stock valued at $1,071,000 after buying an additional 130 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Macquarie lifted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Rosenblatt Securities reissued a "buy" rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Oppenheimer increased their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $120.77.

Live Nation Entertainment Price Performance

LYV traded up $0.72 on Tuesday, hitting $115.68. 1,391,769 shares of the company's stock traded hands, compared to its average volume of 2,113,394. The company's 50 day simple moving average is $103.14 and its 200-day simple moving average is $97.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $116.57. The firm has a market cap of $26.58 billion, a price-to-earnings ratio of 109.82, a P/E/G ratio of 2.65 and a beta of 1.35.

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

Insider Activity

In related news, CAO Brian Capo sold 5,000 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares of the company's stock, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company's stock, valued at approximately $1,190,911.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 over the last 90 days. Corporate insiders own 2.85% of the company's stock.

About Live Nation Entertainment

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.