State of Wyoming Takes Position in Live Nation Entertainment, Inc. $LYV

State of Wyoming purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, Holdings Channel.com reports. The fund purchased 6,651 shares of the company’s stock, valued at approximately $1,014,000.

Several other large investors have also bought and sold shares of LYV. Leonteq Securities AG bought a new position in Live Nation Entertainment in the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $30,000. DV Equities LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at approximately $31,000. Finally, Blue Trust Inc. increased its position in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after purchasing an additional 107 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $178.05 on Thursday. The stock has a market cap of $41.94 billion, a price-to-earnings ratio of -100.59 and a beta of 1.11. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $188.00. The company’s fifty day moving average is $173.20 and its 200 day moving average is $160.74. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company posted ($0.32) EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wolfe Research increased their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Morgan Stanley raised their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Susquehanna cut Live Nation Entertainment from a “positive” rating to a “neutral” rating and upped their target price for the stock from $181.00 to $186.00 in a report on Tuesday. Finally, Citizens Jmp increased their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday. Nineteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.