Corebridge Financial Inc. Has $6.24 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Corebridge Financial Inc. lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,161 shares of the company’s stock after purchasing an additional 6,392 shares during the period. Corebridge Financial Inc.’s holdings in Live Nation Entertainment were worth $6,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment in the third quarter valued at about $38,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment during the third quarter worth about $42,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth about $44,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Morgan Stanley upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Rosenblatt Securities restated a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Bank of America lifted their price objective 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. Finally, Macquarie boosted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $125.05 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day simple moving average of $138.14 and a two-hundred day simple moving average of $128.62. The company has a market capitalization of $29.19 billion, a P/E ratio of 45.97, a P/E/G ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last quarter. 2.72% of the stock is owned by corporate insiders.

About Live Nation Entertainment

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.