Truist Financial Corp trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 99.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,912 shares of the company's stock after selling 2,598,479 shares during the quarter. Truist Financial Corp's holdings in Live Nation Entertainment were worth $3,485,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of LYV. Brooklyn Investment Group bought a new stake in Live Nation Entertainment in the 3rd quarter valued at about $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $38,000. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $41,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment in the 4th quarter valued at approximately $42,000. 74.52% of the stock is owned by institutional investors.
Insider Activity at Live Nation Entertainment
In other news, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction dated 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 owns 195,346 shares of the company's stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.72% of the stock is currently owned by insiders.
Live Nation Entertainment Stock Up 1.7 %
Shares of LYV stock traded up $2.39 during trading hours on Friday, hitting $143.35. 2,904,863 shares of the company's stock traded hands, compared to its average volume of 2,117,939. The stock's fifty day simple moving average is $140.05 and its two-hundred day simple moving average is $123.81. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The stock has a market cap of $33.31 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating 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 company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on LYV shares. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Guggenheim raised their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. StockNews.com upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday. Finally, The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.00.
Check Out Our Latest Analysis on LYV
Live Nation Entertainment Profile
(
Free Report)
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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