Groupama Asset Managment Buys New Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Groupama Asset Managment acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,000,000 shares of the company's stock, valued at approximately $259,000,000. Live Nation Entertainment accounts for 1.9% of Groupama Asset Managment's investment portfolio, making the stock its 15th largest position. Groupama Asset Managment owned about 0.86% of Live Nation Entertainment at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of Live Nation Entertainment by 1.5% in the fourth 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 during the period. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock worth $500,107,000 after buying an additional 108,293 shares in the last quarter. Cantillon Capital Management LLC raised its holdings 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 acquiring an additional 15,891 shares during the period. Artisan Partners Limited Partnership lifted 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 acquiring an additional 445,704 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $255,955,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Remove Ads

Analysts Set New Price Targets

LYV has been the topic of a number of research analyst reports. Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Rosenblatt Securities restated a "buy" rating and set a $174.00 price target on shares of Live Nation Entertainment in a report on Tuesday. Benchmark reaffirmed a "buy" rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. Macquarie boosted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Roth Mkm increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $160.33.

Live Nation Entertainment Stock Performance

NYSE:LYV traded down $8.85 during mid-day trading on Thursday, hitting $125.80. The company's stock had a trading volume of 3,395,038 shares, compared to its average volume of 2,236,286. The business's fifty day moving average is $137.82 and its two-hundred day moving average is $129.34. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a market cap of $29.36 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.81 and a beta of 1.38.

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 the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion during 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%. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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 of the company's stock, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares of the company's stock, 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 quarter, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is currently owned by company insiders.

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.