Corebridge Financial Inc. Increases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Corebridge Financial Inc. increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,161 shares of the company’s stock after buying an additional 6,392 shares during the quarter. Corebridge Financial Inc.’s holdings in Live Nation Entertainment were worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Stevens Capital Management LP acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $1,495,000. LPL Financial LLC raised its stake in Live Nation Entertainment by 54.3% during the fourth quarter. LPL Financial LLC now owns 51,516 shares of the company’s stock worth $6,671,000 after purchasing an additional 18,135 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $6,760,000. Mizuho Securities USA LLC grew its stake in shares of Live Nation Entertainment by 46.3% during the 4th quarter. Mizuho Securities USA LLC now owns 14,862 shares of the company’s stock valued at $1,925,000 after buying an additional 4,706 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth $1,776,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LYV. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Bank of America boosted 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, Morgan Stanley raised their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were 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 $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last three months. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $125.05 on Friday. 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 stock 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. The firm’s 50 day moving average is $138.14 and its 200-day moving average is $128.62. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75.

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

Live Nation Entertainment 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.