Blueshift Asset Management LLC Invests $1.35 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Blueshift Asset Management LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,447 shares of the company's stock, valued at approximately $1,353,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYV. ValueAct Holdings L.P. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $111,094,000. PointState Capital LP bought a new position in Live Nation Entertainment during the third quarter worth about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company's stock valued at $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Live Nation Entertainment by 37.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company's stock valued at $155,851,000 after buying an additional 385,143 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock valued at $410,664,000 after buying an additional 321,832 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company's stock, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last ninety days. 2.72% of the stock is owned by company insiders.

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Live Nation Entertainment Price Performance

Shares of NYSE LYV traded up $4.30 during mid-day trading on Monday, reaching $127.36. 1,734,429 shares of the company were exchanged, compared to its average volume of 2,142,292. 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 50 day moving average price is $138.67 and its 200 day moving average price is $127.95. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The stock has a market capitalization of $29.73 billion, a PE ratio of 46.83, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LYV. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday, February 20th. Roth Mkm raised their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Bank of America raised their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. 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 fifteen have issued a buy rating to the company's stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus target price of $157.27.

About Live Nation Entertainment

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.