Elo Mutual Pension Insurance Co Has $2.11 Million Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Elo Mutual Pension Insurance Co raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 14.1% in the 4th quarter, HoldingsChannel reports. The fund owned 16,294 shares of the company’s stock after buying an additional 2,009 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Live Nation Entertainment were worth $2,110,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Amundi increased its holdings in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Live Nation Entertainment in the fourth quarter valued at about $226,000. Charles Schwab Investment Management Inc. increased its position in Live Nation Entertainment by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after purchasing an additional 48,949 shares during the period. Finally, Friedenthal Financial bought a new stake in Live Nation Entertainment during the 4th quarter worth about $754,000. 74.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LYV. Guggenheim raised their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Stock Down 2.4 %

Live Nation Entertainment stock opened at $125.05 on Friday. The company has a 50 day moving average of $138.14 and a 200-day moving average of $128.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The stock has a market capitalization of $29.19 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping 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 firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

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