Prestige Wealth Management Group LLC Boosts Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Prestige Wealth Management Group LLC raised its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 28.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,418 shares of the company’s stock after acquiring an additional 765 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Live Nation Entertainment were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LYV. Corebridge Financial Inc. increased its stake in Live Nation Entertainment by 15.3% during the 4th quarter. Corebridge Financial Inc. now owns 48,161 shares of the company’s stock worth $6,237,000 after buying an additional 6,392 shares during the period. Stevens Capital Management LP acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth $1,495,000. LPL Financial LLC increased its position in shares of Live Nation Entertainment by 54.3% during the fourth quarter. LPL Financial LLC now owns 51,516 shares of the company’s stock worth $6,671,000 after acquiring an additional 18,135 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $6,760,000. Finally, Mizuho Securities USA LLC boosted its holdings in Live Nation Entertainment by 46.3% in the fourth quarter. Mizuho Securities USA LLC now owns 14,862 shares of the company’s stock valued at $1,925,000 after purchasing an additional 4,706 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $127.36 on Tuesday. The company’s 50 day simple moving average is $138.67 and its 200-day simple moving average is $127.95. The firm has a market cap of $29.73 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Ratings Changes

LYV has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Roth Mkm raised their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Rosenblatt Securities reissued a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.27.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% 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.