Boston Partners Cuts Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Boston Partners cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 84.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,076 shares of the company's stock after selling 72,036 shares during the quarter. Boston Partners' holdings in Live Nation Entertainment were worth $1,612,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company's stock worth $945,635,000 after purchasing an additional 105,648 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock worth $410,664,000 after buying an additional 321,832 shares in the last quarter. Cantillon Capital Management LLC grew its position in 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 valued at $385,575,000 after buying an additional 15,891 shares during the period. William Blair Investment Management LLC increased its holdings in Live Nation Entertainment by 18.7% in the fourth 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company's stock worth $155,851,000 after acquiring an additional 385,143 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Live Nation Entertainment

In related news, 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 transaction, 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 transaction was disclosed in a 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 that occurred on 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 sale, the executive vice president now directly owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This 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 over the last 90 days. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Down 0.1 %

Shares of NYSE:LYV traded down $0.10 during trading hours on Wednesday, reaching $126.92. The stock had a trading volume of 1,643,030 shares, compared to its average volume of 2,364,099. The stock has a market capitalization of $29.62 billion, a price-to-earnings ratio of 46.66, a P/E/G ratio of 1.81 and a beta of 1.38. The firm's 50 day moving average is $138.58 and its 200-day moving average is $128.19. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on LYV. Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Rosenblatt Securities reissued a "buy" rating and issued a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Roth Mkm lifted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Guggenheim upped their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.27.

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.