Royal London Asset Management Ltd. Has $19.24 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Royal London Asset Management Ltd. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,569 shares of the company’s stock after buying an additional 6,723 shares during the period. Royal London Asset Management Ltd.’s holdings in Live Nation Entertainment were worth $19,240,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

NYSE LYV opened at $122.93 on Friday. The business has a 50 day simple moving average of $138.74 and a 200 day simple moving average of $127.26. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its 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. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the topic of several research reports. Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Rosenblatt Securities reissued a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Guggenheim boosted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

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.