Allspring Global Investments Holdings LLC Has $91.49 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Allspring Global Investments Holdings LLC lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% during the first quarter, HoldingsChannel.com reports. The firm owned 599,423 shares of the company’s stock after selling 7,741 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Live Nation Entertainment were worth $91,490,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after buying an additional 367,624 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after acquiring an additional 193,104 shares during the last quarter. Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in Live Nation Entertainment by 37.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after purchasing an additional 123,800 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $180.31 on Friday. The firm has a 50-day moving average of $172.41 and a 200-day moving average of $159.88. The company has a market cap of $42.47 billion, a PE ratio of -101.87 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00.

Live Nation Entertainment (NYSE:LYV) last released 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 net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company earned ($0.32) EPS. Live Nation Entertainment’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Citizens Jmp initiated coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price objective for the company. Wolfe Research lifted their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Rothschild & Co Redburn boosted their target price on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Finally, Roth Capital restated a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Wednesday. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.90.

About Live Nation Entertainment

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.