Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,633 shares of the company’s stock after selling 237 shares during the period. Twin Capital Management Inc.’s holdings in Live Nation Entertainment were worth $621,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Federated Hermes Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $8,716,000. Daiwa Securities Group Inc. lifted its holdings in shares of Live Nation Entertainment by 31.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 19,033 shares of the company’s stock valued at $1,781,000 after purchasing an additional 4,574 shares during the last quarter. Prosperity Wealth Management Inc. acquired a new position in Live Nation Entertainment during the fourth quarter valued at $352,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Live Nation Entertainment by 3.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,507 shares of the company’s stock valued at $3,791,000 after buying an additional 1,357 shares during the period. Finally, Strs Ohio acquired a new position in Live Nation Entertainment during the fourth quarter valued at $3,744,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. TD Cowen reissued a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $114.00 in a research report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $115.70.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $89.98 on Friday. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a fifty-two week low of $64.96 and a fifty-two week high of $107.24. The stock’s 50-day moving average is $99.01 and its two-hundred day moving average is $91.39. The firm has a market cap of $20.77 billion, a P/E ratio of 67.65 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. Analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current fiscal year.

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.