Allspring Global Investments Holdings LLC Has $88.23 Million Position in Live Nation Entertainment, Inc. $LYV

Allspring Global Investments Holdings LLC lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 14.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 607,164 shares of the company’s stock after acquiring an additional 78,171 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Live Nation Entertainment were worth $88,227,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. increased its holdings in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the period. Atwood & Palmer Inc. acquired a new position in Live Nation Entertainment in the third quarter worth about $33,000. Heartwood Wealth Advisors LLC bought a new position in Live Nation Entertainment during the third quarter worth about $34,000. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the third quarter valued at approximately $37,000. Finally, Root Financial Partners LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $37,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $152.62 on Wednesday. The company has a 50 day moving average price of $153.02 and a 200 day moving average price of $148.91. The stock has a market capitalization of $35.84 billion, a PE ratio of -635.93 and a beta of 1.11. Live Nation Entertainment, Inc. has a fifty-two week low of $113.20 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LYV. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Guggenheim reiterated a “buy” rating and set a $180.00 target price on shares of Live Nation Entertainment in a research report on Monday, March 9th. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Bank of America increased their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein raised their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.67.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.