Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by Utah Retirement Systems

Utah Retirement Systems raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 26,195 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in Live Nation Entertainment were worth $3,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 0.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock valued at $1,120,177,000 after purchasing an additional 44,703 shares in the last quarter. Principal Financial Group Inc. boosted its position in Live Nation Entertainment by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after acquiring an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC lifted its stake in Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after purchasing an additional 108,293 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its holdings in shares of Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock worth $415,447,000 after purchasing an additional 777,105 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 in the last ninety days. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Down 0.8 %

Shares of NYSE LYV opened at $131.41 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $30.67 billion, a PE ratio of 48.31, a PEG ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The stock has a fifty day simple moving average of $128.60 and a 200-day simple moving average of $132.12.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s revenue was down 11.0% compared to the same quarter last year. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on LYV shares. Susquehanna began coverage on Live Nation Entertainment in a research report on Monday. They set a “positive” rating and a $155.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $174.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Roth Mkm boosted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.00.

Live Nation Entertainment Profile

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.