HM Payson & Co. Acquires 1,043 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

HM Payson & Co. lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 14,900.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,050 shares of the company’s stock after acquiring an additional 1,043 shares during the quarter. HM Payson & Co.’s holdings in Live Nation Entertainment were worth $136,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Live Nation Entertainment by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after acquiring an additional 107,844 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Live Nation Entertainment during the 4th quarter valued at $226,000. Empowered Funds LLC raised its holdings in Live Nation Entertainment by 392.4% during the 3rd quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after buying an additional 13,815 shares during the last quarter. Friedenthal Financial bought a new stake in Live Nation Entertainment during the 4th quarter valued at $754,000. Finally, Natixis Advisors LLC raised its holdings in Live Nation Entertainment by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after buying an additional 7,136 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LYV. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Oppenheimer upped their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Down 2.7 %

NYSE:LYV opened at $127.56 on Monday. The firm’s 50-day moving average price is $140.47 and its 200-day moving average price is $125.99. The company has a market capitalization of $29.77 billion, a PE ratio of 46.90, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released 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. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.