Canada Post Corp Registered Pension Plan Acquires New Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Canada Post Corp Registered Pension Plan bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,357 shares of the company's stock, valued at approximately $305,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP increased its holdings in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after buying an additional 3,168,210 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $259,000,000. Norges Bank purchased a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $255,955,000. Massachusetts Financial Services Co. MA lifted its stake in Live Nation Entertainment by 34.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company's stock worth $248,592,000 after purchasing an additional 496,202 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Live Nation Entertainment by 19.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company's stock valued at $353,946,000 after buying an additional 445,704 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LYV. Morgan Stanley raised their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Roth Mkm upped their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $174.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Benchmark restated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. 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.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,136 shares of the firm'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 trade represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Capo sold 5,066 shares of the business's stock in a transaction 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 sale, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV traded up $3.75 on Tuesday, reaching $127.23. 275,871 shares of the company were exchanged, compared to its average volume of 2,230,203. The firm has a market cap of $29.69 billion, a price-to-earnings ratio of 46.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a 50-day moving average of $131.99 and a 200-day moving average of $131.33. 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 issued its quarterly earnings data 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 return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.