Cerity Partners LLC Sells 5,402 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cerity Partners LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,752 shares of the company's stock after selling 5,402 shares during the period. Cerity Partners LLC's holdings in Live Nation Entertainment were worth $4,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Groupama Asset Managment bought a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $259,000,000. Norges Bank acquired a new stake in Live Nation Entertainment during the 4th quarter valued at $255,955,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Live Nation Entertainment by 34.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company's stock valued at $248,592,000 after purchasing an additional 496,202 shares during the last quarter. Artisan Partners Limited Partnership raised its position 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 purchasing an additional 445,704 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 9.4% during the 3rd 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 during the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, 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 completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Price Performance

NYSE:LYV traded up $1.90 during trading hours on Friday, hitting $127.36. The company's stock had a trading volume of 2,566,577 shares, compared to its average volume of 2,245,343. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $29.73 billion, a P/E ratio of 46.82, a PEG ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The stock has a fifty day simple moving average of $132.90 and a 200-day simple moving average of $130.84.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley raised 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 Tuesday, February 18th. Rosenblatt Securities restated a "buy" rating and issued a $174.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Roth Mkm increased their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Macquarie boosted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Finally, Benchmark reaffirmed a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Live Nation Entertainment Company 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.