State of Tennessee Department of Treasury Grows Position in Live Nation Entertainment, Inc. (NYSE:LYV)

State of Tennessee Department of Treasury lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,167 shares of the company's stock after purchasing an additional 4,093 shares during the quarter. State of Tennessee Department of Treasury's holdings in Live Nation Entertainment were worth $4,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LYV. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $38,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment in the fourth quarter valued at $40,000. Morse Asset Management Inc purchased a new stake in Live Nation Entertainment during the third quarter valued at about $42,000. Golden State Wealth Management LLC bought a new stake in Live Nation Entertainment during the fourth quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth about $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on LYV. Macquarie upped their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Benchmark reaffirmed a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.33.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares of the company's stock, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction 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 completion of 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 a total of 68,702 shares of company stock worth $10,497,143 in the last three months. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $132.95 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The stock's 50 day simple moving average is $130.21 and its two-hundred day simple moving average is $131.62. 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 has a market cap of $31.03 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued 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 company had revenue of $5.68 billion for the quarter, compared to analysts' expectations 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, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.

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