Federated Hermes Inc. Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Federated Hermes Inc. purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,123 shares of the company’s stock, valued at approximately $8,716,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Findlay Park Partners LLP boosted its holdings in Live Nation Entertainment by 55.1% in the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after buying an additional 1,087,264 shares during the period. Jericho Capital Asset Management L.P. grew its position in shares of Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after purchasing an additional 726,000 shares in the last quarter. Nordea Investment Management AB raised its stake in Live Nation Entertainment by 104.2% during the 4th quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after purchasing an additional 606,743 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Live Nation Entertainment by 78.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock worth $105,961,000 after purchasing an additional 561,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Live Nation Entertainment by 5.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after purchasing an additional 429,650 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $89.65 on Thursday. The firm has a market capitalization of $20.69 billion, a PE ratio of 67.41 and a beta of 1.30. Live Nation Entertainment, Inc. has a 12-month low of $64.96 and a 12-month high of $107.24. The firm has a 50-day moving average price of $99.05 and a 200-day moving average price of $91.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LYV shares. TD Cowen reissued a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Rosenblatt Securities reduced their target price on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Morgan Stanley increased their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer lifted their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Finally, Roth Capital upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.30.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.85% of the stock is currently owned by corporate insiders.

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.