OVERSEA CHINESE BANKING Corp Ltd Buys New Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 10,475 shares of the company's stock, valued at approximately $1,357,000.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Live Nation Entertainment during the third quarter worth approximately $31,000. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $38,000. Morse Asset Management Inc purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at $42,000. Golden State Wealth Management LLC bought a new stake in Live Nation Entertainment in the fourth quarter worth $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Live Nation Entertainment during the fourth quarter worth $44,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In related 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 value of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This trade 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 in the last quarter. 2.72% of the stock is currently owned by corporate insiders.

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Live Nation Entertainment Stock Up 3.5 %

NYSE LYV traded up $4.30 during trading on Monday, reaching $127.36. 1,734,429 shares of the company's stock traded hands, compared to its average volume of 2,142,291. The firm has a market cap of $29.73 billion, a price-to-earnings ratio of 46.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company's 50 day simple moving average is $138.74 and its two-hundred day simple moving average is $127.71. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.67 billion. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LYV shares. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. 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 Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $157.27.

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.