Mercer Global Advisors Inc. ADV Has $386,000 Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Mercer Global Advisors Inc. ADV lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 14.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,540 shares of the company’s stock after purchasing an additional 705 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Live Nation Entertainment were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of Live Nation Entertainment by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,197 shares of the company’s stock valued at $2,176,000 after purchasing an additional 726 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at approximately $355,000. FORA Capital LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $476,000. Belpointe Asset Management LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $58,000. Finally, SPX Gestao de Recursos Ltda acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $9,164,000. 69.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYV has been the subject of a number of recent research reports. Rosenblatt Securities upped their price target on Live Nation Entertainment from $101.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. TheStreet downgraded Live Nation Entertainment from a “c-” rating to a “d+” rating in a research report on Friday, March 3rd. Roth Mkm initiated coverage on Live Nation Entertainment in a research report on Wednesday, March 22nd. They set a “neutral” rating and a $72.00 price target for the company. Benchmark reduced their price target on Live Nation Entertainment from $120.00 to $105.00 in a research report on Wednesday, May 3rd. Finally, Citigroup upped their price objective on Live Nation Entertainment from $82.00 to $89.00 in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.55.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 100,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $78.00, for a total transaction of $7,800,000.00. Following the sale, the executive vice president now directly owns 157,786 shares of the company’s stock, valued at approximately $12,307,308. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.01% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Down 3.2 %

LYV stock opened at $82.06 on Wednesday. The company has a debt-to-equity ratio of 82.73, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 115.58 and a beta of 1.29. The business’s fifty day moving average price is $71.25 and its two-hundred day moving average price is $72.52. Live Nation Entertainment, Inc. has a fifty-two week low of $64.25 and a fifty-two week high of $99.66.

Live Nation Entertainment (NYSE:LYV – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.13). The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $3.40 billion. Live Nation Entertainment had a return on equity of 226.22% and a net margin of 1.90%. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 0.4 earnings per share for the current year.

About Live Nation Entertainment

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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.