California Public Employees Retirement System Cuts Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

California Public Employees Retirement System decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 281,770 shares of the company's stock after selling 6,784 shares during the quarter. California Public Employees Retirement System owned 0.12% of Live Nation Entertainment worth $36,489,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LYV. Amundi boosted its position in shares of Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after buying an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock valued at $5,140,000 after acquiring an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth $226,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock valued at $132,088,000 after purchasing an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $754,000. Institutional investors and hedge funds own 74.52% of the company's stock.

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Insider Buying and Selling at Live Nation Entertainment

In related news, 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 value of $61,475.00. Following the sale, the director now directly owns 52,624 shares of the company's stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last three months. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV traded down $5.06 during midday trading on Friday, hitting $121.00. The company's stock had a trading volume of 3,786,019 shares, compared to its average volume of 2,247,464. The stock has a fifty day moving average price of $137.16 and a 200 day moving average price of $129.45. The firm has a market capitalization of $28.24 billion, a price-to-earnings ratio of 44.48, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its 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. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LYV. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Macquarie increased their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday. Finally, Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $160.33.

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.