Prudential Financial Inc. Has $10.43 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Prudential Financial Inc. lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,532 shares of the company's stock after selling 10,770 shares during the period. Prudential Financial Inc.'s holdings in Live Nation Entertainment were worth $10,429,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ValueAct Holdings L.P. bought a new position in Live Nation Entertainment during the third quarter worth about $111,094,000. PointState Capital LP acquired a new position in Live Nation Entertainment during the third quarter valued at approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company's stock valued at $118,147,000 after purchasing an additional 387,008 shares in the last quarter. Geode Capital Management LLC raised its holdings in Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock worth $410,664,000 after purchasing an additional 321,832 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Live Nation Entertainment by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company's stock worth $234,388,000 after purchasing an additional 284,623 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

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Insider Buying and Selling at Live Nation Entertainment

In other 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 transaction, the executive vice president now owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 over the last ninety days. Insiders own 2.72% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LYV. Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Bank of America raised their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Morgan Stanley increased 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 report on Tuesday, February 18th. Finally, Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen 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 an average target price of $160.33.

Live Nation Entertainment Stock Up 0.5 %

LYV traded up $0.62 during trading on Wednesday, reaching $132.63. 459,982 shares of the stock were exchanged, compared to its average volume of 2,430,438. The stock has a market cap of $30.96 billion, a P/E ratio of 48.76, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock's 50 day moving average price is $137.90 and its two-hundred day moving average price is $129.30. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Live Nation Entertainment Company 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.