Teacher Retirement System of Texas Increases Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)
Teacher Retirement System of Texas Increases Holdings in Live Nation Entertainment, Inc.
In a recent filing with the Securities and Exchange Commission (SEC), the Teacher Retirement System of Texas revealed that it has increased its holdings in Live Nation Entertainment, Inc. (NYSE: LYV) by 21.1% during the fourth quarter. The institutional investor now owns 15,072 shares of the company’s stock, worth $1,411,000.
This move by the Teacher Retirement System of Texas is part of a trend among institutional investors who have been adding to their stakes in Live Nation Entertainment. Creative Financial Designs Inc. ADV, Raleigh Capital Management Inc., Cary Street Partners Investment Advisory LLC, Tobam, and Signaturefd LLC are among the other institutions that have recently increased their holdings in the company.
Analyst Ratings Changes
Several brokerages have recently commented on LYV, with Rosenblatt Securities, JPMorgan Chase & Co., Redburn Atlantic, Roth Mkm, and Morgan Stanley all giving positive ratings to the stock. The consensus rating for Live Nation Entertainment is a “Moderate Buy,” with a consensus target price of $116.83.
Live Nation Entertainment Price Performance
Shares of LYV opened at $96.59 on Monday, with a 50-day simple moving average of $98.44 and a two-hundred day simple moving average of $93.01. The company has a market cap of $22.35 billion and a beta of 1.34.
Insider Activity at Live Nation Entertainment
In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction dated March 8th. The director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. Company insiders own 2.85% of the company’s stock.
Live Nation Entertainment Profile
Live Nation Entertainment, Inc. operates as a live entertainment company worldwide, with segments including Concerts, Ticketing, and Sponsorship & Advertising. The company promotes live music events, operates music venues, produces music festivals, and offers management services to artists.
Overall, Live Nation Entertainment continues to attract the interest of institutional investors and analysts, with positive ratings and a strong performance in the market. Stay tuned for more updates on this dynamic company.
