Ritholtz Wealth Management boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 130.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,516 shares of the company’s stock after purchasing an additional 3,119 shares during the quarter. Ritholtz Wealth Management’s holdings in Live Nation Entertainment were worth $720,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after purchasing an additional 75 shares in the last quarter. Utah Retirement Systems lifted its stake in shares of Live Nation Entertainment by 0.4% in the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company’s stock valued at $3,392,000 after buying an additional 100 shares in the last quarter. BTC Capital Management Inc. grew its holdings in shares of Live Nation Entertainment by 2.7% during the first quarter. BTC Capital Management Inc. now owns 4,475 shares of the company’s stock valued at $584,000 after buying an additional 117 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Live Nation Entertainment by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company’s stock worth $2,559,000 after acquiring an additional 143 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Live Nation Entertainment by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company’s stock worth $487,000 after acquiring an additional 154 shares during the last quarter. 74.52% of the stock is owned by institutional investors.
Live Nation Entertainment Stock Up 1.7%
LYV stock opened at $148.13 on Thursday. Live Nation Entertainment, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $157.75. The company has a market capitalization of $34.33 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 5.77 and a beta of 1.44. The business’s 50 day moving average price is $137.68 and its two-hundred day moving average price is $135.95. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on LYV shares. Rosenblatt Securities decreased their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a “positive” rating in a research report on Tuesday, June 10th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price target on the stock. 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, Bank of America increased 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 note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.24.
Get Our Latest Research Report on LYV
Insider Buying and Selling at Live Nation Entertainment
In related news, EVP John Hopmans sold 34,808 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the sale, the executive vice president now owns 189,456 shares of the company’s stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is owned by company 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.
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