Tower Research Capital LLC TRC Buys 10,560 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Tower Research Capital LLC TRC grew its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 233.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,080 shares of the company's stock after acquiring an additional 10,560 shares during the quarter. Tower Research Capital LLC TRC's holdings in Live Nation Entertainment were worth $1,953,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Amundi boosted its position in shares of Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after purchasing an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after acquiring an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Live Nation Entertainment in the fourth quarter valued at about $226,000. Aviva PLC increased its holdings in shares of Live Nation Entertainment by 1,524.1% in the fourth quarter. Aviva PLC now owns 97,057 shares of the company's stock worth $12,569,000 after acquiring an additional 91,081 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock valued at $132,088,000 after purchasing an additional 48,949 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction 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 transaction, the director now directly owns 52,624 shares of the company's stock, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 over the last ninety days. 2.72% of the stock is currently owned by company insiders.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $128.80 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The business's 50 day moving average price is $131.52 and its two-hundred day moving average price is $131.32. The company has a market cap of $30.06 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. 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 posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Macquarie boosted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Bank of America increased their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, February 24th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Live Nation Entertainment 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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