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Westpac Banking Corp reduced its stake in Live Nation Entertainment, Inc. (NYSE ticker symbol: LIE – get rating) rose 45.2% in the third quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission. The company owns 39,832 shares of the company after selling 32,900 shares during the quarter. As of its most recent SEC filing, Westpac Banking Corp’s stake in Live Nation Entertainment was valued at $3,029,000.
Other institutional investors have also bought and sold the company’s shares recently. William Blair Investment Management LLC increased its stake in Live Nation Entertainment by 13.8% in the second quarter. William Blair Investment Management LLC now owns 2,477,647 shares of the company worth $204,604,000 after purchasing an additional 300,322 shares during that period. Park Avenue Securities LLC increased its stake in Live Nation Entertainment by 11.2% in the second quarter. Park Avenue Securities LLC now owns 2,692 shares of the company worth $222,000 after acquiring an additional 272 shares last quarter. First Horizon Advisors Inc. increased its stake in Live Nation Entertainment by 307.3% in the second quarter. First Horizon Advisors Inc. now owns 839 shares of the company worth $69,000 after acquiring an additional 633 shares last quarter. WINTON GROUP Ltd increased its stake in Live Nation Entertainment by 380.3% in the second quarter. WINTON GROUP Ltd now owns 22,414 shares of the company worth $1,851,000 after acquiring an additional 17,747 shares last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Live Nation Entertainment by 41.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,455 shares of the company worth $946,000 after acquiring an additional 3,351 shares last quarter. 69.90% of shares are held by hedge funds and other institutional investors.
Live Nation Entertainment traded down 1.5 percent
shares Live Nation Entertainment Stock It opened at $80.16 on Friday. The company’s debt-to-equity ratio is 12.85, the current ratio is 1.04, and the quick ratio is 1.04. The company’s 50-day moving average is $73.96 and its 200-day moving average is $80.19. Live Nation Entertainment, Inc. had a 1-year low of $65.05 and a 1-year high of $126.79. The market cap is $18.51 billion, with a price-to-earnings ratio of 114.52 and a beta of 1.29.
insider trading
In other Live Nation Entertainment news, director Jimmy Iovine purchased 13,740 shares of Live Nation Entertainment stock in a trade that occurred on Thursday, December 1. The stock was purchased at an average price of $73.28 per share for a total value of $1,006,867.20. Following the acquisition, the director now directly owns 13,740 shares of the company, valued at approximately $1,006,867.20.The transaction was disclosed in a legal filing with the U.S. Securities and Exchange Commission, available through SEC website. 4.01% of shares are currently held by company insiders.
Wall Street analysts weigh in
Several equity research analysts weigh in on LYV stock. Rosenblatt Securities cut their price target on Live Nation Entertainment from $138.00 to $101.00 and set a “buy” rating on the company in a research report on Tuesday, October 18th. Stock News Network Shares of Live Nation Entertainment were upgraded from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Morgan Stanley cut their price target on shares of Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 30th. Redburn Partners began coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 22nd. They set a “neutral” rating on the company. Finally, Citigroup upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $90.00 to $82.00 in a research report on Monday, November 28th. . Two equity research analysts have rated the stock with a hold rating and nine have issued a buy rating on the stock. Live Nation Entertainment currently has a Moderate Buy consensus rating and an average price target of $105.67, according to MarketBeat.com.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as an entertainment company. The company produces, markets and sells live concerts for artists through its global concert pipeline. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events at owned or operated venues as well as leased third-party venues.
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