Norges Bank Buys Shares of 1,976,484 Live Nation Entertainment, Inc. (NYSE:LYV)

Norges Bank bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,976,484 shares of the company's stock, valued at approximately $255,955,000. Norges Bank owned approximately 0.85% of Live Nation Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.5% in 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock valued at $410,664,000 after purchasing an additional 321,832 shares during the period. Cantillon Capital Management LLC boosted its position in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company's stock worth $385,575,000 after buying an additional 15,891 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company's stock worth $353,946,000 after buying an additional 445,704 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in Live Nation Entertainment by 18.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company's stock valued at $234,388,000 after buying an additional 284,623 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CAO Brian Capo sold 5,066 shares of the company's 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 transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the firm'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 sale, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 insiders.

Analysts Set New Price Targets

Several brokerages have commented on LYV. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday. Roth Mkm raised their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a report on Friday, February 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Finally, The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $8.59 during mid-day trading on Thursday, reaching $126.06. The company had a trading volume of 866,160 shares, compared to its average volume of 2,226,861. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The business's 50-day simple moving average is $137.82 and its 200 day simple moving average is $129.34. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $29.42 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.