Federated Hermes Inc. Raises Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Federated Hermes Inc. increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 21.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 218,082 shares of the company’s stock after purchasing an additional 39,071 shares during the period. Federated Hermes Inc. owned approximately 0.09% of Live Nation Entertainment worth $20,443,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its stake in shares of Live Nation Entertainment by 4.0% in the fourth quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock valued at $605,000 after buying an additional 249 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Live Nation Entertainment by 19.5% during the 4th quarter. Private Advisor Group LLC now owns 5,612 shares of the company’s stock worth $525,000 after purchasing an additional 917 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Live Nation Entertainment by 21.1% in the 4th quarter. Teacher Retirement System of Texas now owns 15,072 shares of the company’s stock valued at $1,411,000 after purchasing an additional 2,626 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Live Nation Entertainment by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 767,248 shares of the company’s stock valued at $71,820,000 after purchasing an additional 22,104 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Live Nation Entertainment by 35.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,687 shares of the company’s stock worth $532,000 after buying an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LYV shares. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Macquarie reaffirmed an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Finally, Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.46.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 over the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Live Nation Entertainment Trading Up 1.6 %

LYV stock opened at $98.85 on Monday. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 2.29 and a beta of 1.34. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The business has a fifty day simple moving average of $94.89 and a 200-day simple moving average of $95.94.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.21 EPS for the current 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.