Live Nation Entertainment, Inc. $LYV Holdings Raised by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 336.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,209 shares of the company’s stock after purchasing an additional 21,744 shares during the quarter. Fifth Third Bancorp’s holdings in Live Nation Entertainment were worth $4,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LYV. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $30,000. DV Equities LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $31,000. Finally, Blue Trust Inc. raised its stake in Live Nation Entertainment by 62.6% during the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE LYV opened at $180.31 on Friday. The company has a 50-day moving average price of $172.41 and a two-hundred day moving average price of $159.88. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $188.00. The stock has a market cap of $42.47 billion, a price-to-earnings ratio of -101.87 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 0.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LYV. Morgan Stanley lifted their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Guggenheim increased their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research report on Wednesday. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $190.90.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

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.