Royal London Asset Management Ltd. Increases Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Royal London Asset Management Ltd. raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,569 shares of the company's stock after purchasing an additional 6,723 shares during the quarter. Royal London Asset Management Ltd. owned 0.06% of Live Nation Entertainment worth $19,240,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at $42,000. Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth $44,000. Independence Bank of Kentucky purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $45,000. Finally, Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the third quarter valued at $42,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on LYV shares. Rosenblatt Securities reissued a "buy" rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Roth Mkm increased 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. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Guggenheim upped their price objective 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. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.27.

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Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $0.10 during midday trading on Wednesday, reaching $126.92. The stock had a trading volume of 1,643,030 shares, compared to its average volume of 2,364,099. The company has a market capitalization of $29.62 billion, a price-to-earnings ratio of 46.66, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The stock has a 50-day moving average of $138.58 and a 200-day moving average of $128.19. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping 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 return on equity of 139.09% and a net margin of 3.90%. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by insiders.

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.