Wells Fargo & Company MN grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,786,851 shares of the company’s stock after purchasing an additional 627,695 shares during the period. Wells Fargo & Company MN’s holdings in Live Nation Entertainment were worth $118,636,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $134,000. IFP Advisors Inc lifted its holdings in shares of Live Nation Entertainment by 85.4% during the 4th quarter. IFP Advisors Inc now owns 3,088 shares of the company’s stock valued at $131,000 after purchasing an additional 1,422 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $167,000. US Bancorp DE lifted its holdings in shares of Live Nation Entertainment by 379.4% during the 4th quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $165,000 after purchasing an additional 3,062 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 69.32% of the company’s stock.
LYV has been the subject of several analyst reports. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, October 24th. Macquarie restated a “buy” rating and issued a $52.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, January 17th. Jefferies Group raised their target price on Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Saturday, December 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment currently has an average rating of “Buy” and an average price target of $44.57.
In other Live Nation Entertainment news, COO Joe Berchtold sold 20,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $43.08, for a total transaction of $861,600.00. Following the completion of the transaction, the chief operating officer now owns 97,918 shares in the company, valued at approximately $4,218,307.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Rapino sold 70,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total value of $3,000,900.00. Following the transaction, the chief executive officer now owns 115,277 shares of the company’s stock, valued at approximately $4,941,924.99. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock valued at $26,681,100 in the last 90 days. 4.77% of the stock is currently owned by company insiders.
Live Nation Entertainment, Inc. (NYSE LYV) opened at $46.86 on Wednesday. The stock has a market capitalization of $9,709.25, a price-to-earnings ratio of 2,344.17 and a beta of 1.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. Live Nation Entertainment, Inc. has a 52 week low of $28.00 and a 52 week high of $47.60.
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Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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