Live Nation Entertainment, Inc. (NYSE:LYV) Stake Trimmed by Select Equity Group L.P.

Select Equity Group L.P. trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,442,456 shares of the company’s stock after selling 4,131,263 shares during the quarter. Live Nation Entertainment makes up 4.3% of Select Equity Group L.P.’s holdings, making the stock its biggest position. Select Equity Group L.P. owned approximately 3.63% of Live Nation Entertainment worth $1,093,298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Amundi raised its position in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC increased its holdings in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after acquiring an additional 33,980 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Live Nation Entertainment in the 4th quarter worth $226,000. Aviva PLC increased its holdings in shares of Live Nation Entertainment by 1,524.1% in the 4th quarter. Aviva PLC now owns 97,057 shares of the company’s stock worth $12,569,000 after buying an additional 91,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after buying an additional 48,949 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was 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 of the company’s stock, 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. In the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 3.01% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $147.80 on Friday. The firm has a market cap of $34.26 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s fifty day simple moving average is $129.40 and its two-hundred day simple moving average is $133.87.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYV. Macquarie upped their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. 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 research note on Tuesday, February 18th. Rosenblatt Securities cut their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. 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 research note on Friday, February 21st. Finally, Susquehanna began coverage on shares of Live Nation Entertainment in a research note on Monday, April 28th. They issued a “positive” rating and a $155.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.07.

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.