Corient Private Wealth LLC cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 12.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,905 shares of the company's stock after selling 3,849 shares during the quarter. Corient Private Wealth LLC's holdings in Live Nation Entertainment were worth $3,614,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of 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 raised its stake 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 valued at $410,664,000 after buying an additional 321,832 shares during the last quarter. Cantillon Capital Management LLC boosted its holdings in Live Nation Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company's stock worth $385,575,000 after acquiring an additional 15,891 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 last quarter. Finally, Amundi grew its position in Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Institutional investors own 74.52% of the company's stock.
Live Nation Entertainment Trading Down 0.1 %
Shares of NYSE LYV traded down $0.10 during midday trading on Wednesday, reaching $126.92. 1,642,853 shares of the stock were exchanged, compared to its average volume of 2,364,096. 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 $29.62 billion, a price-to-earnings ratio of 46.66, a P/E/G ratio of 1.81 and a beta of 1.38. The business has a 50-day simple moving average of $138.58 and a two-hundred day simple moving average of $128.19. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates 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%. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.
Analysts Set New Price Targets
LYV has been the topic of several analyst reports. Macquarie upped their price objective 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. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Guggenheim upped their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Bank of America raised their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $157.27.
Check Out Our Latest Research Report on LYV
Insider Transactions at Live Nation Entertainment
In other news, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was 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 in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is currently owned by insiders.
Live Nation Entertainment Profile
(
Free Report)
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.
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