Illinois Municipal Retirement Fund Sells 5,147 Shares of Live Nation Entertainment, Inc. $LYV

Illinois Municipal Retirement Fund reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 23.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,805 shares of the company’s stock after selling 5,147 shares during the period. Illinois Municipal Retirement Fund’s holdings in Live Nation Entertainment were worth $2,563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its position in Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after acquiring an additional 759,363 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares during the last quarter. CenterBook Partners LP lifted its holdings in shares of Live Nation Entertainment by 780.1% in the fourth quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after acquiring an additional 19,627 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Live Nation Entertainment by 14.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock valued at $88,227,000 after purchasing an additional 78,171 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after purchasing an additional 123,800 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research analyst reports. Wolfe Research raised their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.90.

Live Nation Entertainment Trading Up 0.1%

Shares of NYSE LYV opened at $180.31 on Monday. The firm has a 50 day moving average price of $172.41 and a two-hundred day moving average price of $159.98. The stock has a market cap of $42.47 billion, a P/E ratio of -101.87 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $188.00. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted ($0.32) EPS. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 0.96 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.