Resources Management Corp CT ADV Has $1.06 Million Position in Live Nation Entertainment, Inc. $LYV

Resources Management Corp CT ADV increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 280.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,441 shares of the company’s stock after buying an additional 5,483 shares during the quarter. Resources Management Corp CT ADV’s holdings in Live Nation Entertainment were worth $1,060,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after purchasing an additional 759,363 shares during the period. L2 Asset Management LLC boosted its holdings in shares of Live Nation Entertainment by 70.4% during the third quarter. L2 Asset Management LLC now owns 35,019 shares of the company’s stock worth $5,722,000 after purchasing an additional 14,470 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Live Nation Entertainment by 1.8% during the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Live Nation Entertainment by 14.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock worth $88,227,000 after purchasing an additional 78,171 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on LYV. UBS Group raised their price target on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Susquehanna lifted their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday, May 6th. Rothschild & Co Redburn lifted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Finally, Citizens Jmp started coverage on shares of Live Nation Entertainment in a research note on Monday, March 30th. They issued a “market outperform” rating and a $190.00 target price for the company. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Live Nation Entertainment Price Performance

NYSE LYV opened at $172.35 on Monday. The company has a 50 day moving average price of $162.57 and a two-hundred day moving average price of $152.92. 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, Inc. has a 12-month low of $125.34 and a 12-month high of $175.25. The stock has a market capitalization of $40.60 billion, a PE ratio of -97.37 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Live Nation Entertainment’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment 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 completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, 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 business’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 transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by insiders.

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.