ING Groep NV Purchases New Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

ING Groep NV bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,782 shares of the company's stock, valued at approximately $2,044,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company's stock worth $945,635,000 after buying an additional 105,648 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $410,664,000 after acquiring an additional 321,832 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 37.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company's stock worth $155,851,000 after purchasing an additional 385,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company's stock worth $118,147,000 after purchasing an additional 387,008 shares during the period. Finally, ValueAct Holdings L.P. acquired a new position in Live Nation Entertainment in the third quarter valued at about $111,094,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LYV shares. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Citigroup boosted their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Bank of America raised their price target 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. Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, TD Cowen boosted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Live Nation Entertainment Trading Down 0.8 %

Shares of Live Nation Entertainment stock traded down $1.19 during midday trading on Thursday, reaching $140.97. The company had a trading volume of 2,989,587 shares, compared to its average volume of 2,162,197. The firm has a market cap of $32.76 billion, a PE ratio of 51.83, a P/E/G ratio of 1.81 and a beta of 1.38. The stock has a fifty day moving average price of $139.87 and a 200 day moving average price of $123.69. 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 fifty-two week low of $86.81 and a fifty-two week high of $157.75.

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

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value 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 $30,356,768.40. The trade was a 24.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.72% of the company's stock.

About Live Nation Entertainment

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.