SouthState Corp Increases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

SouthState Corp raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) by 987.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 500 shares of the company’s stock after acquiring an additional 454 shares during the period. SouthState Corp’s holdings in Live Nation Entertainment were worth $59,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC grew its holdings in Live Nation Entertainment by 1.6% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock valued at $727,000 after buying an additional 94 shares in the last quarter. Sigma Planning Corp grew its holdings in Live Nation Entertainment by 3.8% during the 1st quarter. Sigma Planning Corp now owns 2,575 shares of the company’s stock valued at $303,000 after buying an additional 95 shares in the last quarter. Ahrens Investment Partners LLC grew its holdings in shares of Live Nation Entertainment by 55.6% in the first quarter. Ahrens Investment Partners LLC now owns 280 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Live Nation Entertainment by 2.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,643 shares of the company’s stock valued at $675,000 after purchasing an additional 113 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of Live Nation Entertainment by 4.6% in the fourth quarter. IHT Wealth Management LLC now owns 2,717 shares of the company’s stock valued at $325,000 after purchasing an additional 120 shares in the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. Macquarie raised shares of Live Nation Entertainment from a “neutral” rating to an “outperform” rating and cut their target price for the company from $117.00 to $105.00 in a report on Tuesday, July 5th. Morgan Stanley cut their target price on shares of Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, June 2nd. Rosenblatt Securities initiated coverage on shares of Live Nation Entertainment in a report on Monday, April 25th. They issued a “buy” rating and a $138.00 target price for the company. William Blair reissued an “outperform” rating on shares of Live Nation Entertainment in a report on Friday, April 8th. Finally, Benchmark initiated coverage on shares of Live Nation Entertainment in a research note on Monday, April 25th. They set a “buy” rating and a $135.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.90.

Live Nation Entertainment Trading Down 0.8 %

NYSE:LYV opened at $96.76 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $78.14 and a twelve month high of $127.75. The stock has a fifty day simple moving average of $89.00 and a 200-day simple moving average of $101.38.

Live Nation Entertainment (NYSE:LYVGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business posted ($0.90) earnings per share. The firm’s revenue for the quarter was up 669.9% compared to the same quarter last year. Research analysts forecast that Live Nation Entertainment, Inc. will post 0.45 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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