Blue Grotto Capital LLC Decreases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Blue Grotto Capital LLC reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the company's stock after selling 20,000 shares during the period. Live Nation Entertainment comprises approximately 4.3% of Blue Grotto Capital LLC's investment portfolio, making the stock its 12th largest position. Blue Grotto Capital LLC owned 0.08% of Live Nation Entertainment worth $23,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. ValueAct Holdings L.P. acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $111,094,000. PointState Capital LP acquired a new position in Live Nation Entertainment in the 3rd quarter worth about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 valued at $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 321,832 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Live Nation Entertainment by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company's stock worth $234,388,000 after purchasing an additional 284,623 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

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Insider Buying and Selling at Live Nation Entertainment

In related news, 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 sale, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 195,346 shares of the company's stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Down 2.4 %

Shares of Live Nation Entertainment stock traded down $3.03 during trading on Friday, reaching $125.05. 1,731,244 shares of the company traded hands, compared to its average volume of 2,200,612. The firm has a market capitalization of $29.19 billion, a PE ratio of 45.97, a P/E/G ratio of 1.81 and a beta of 1.38. 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 price of $138.14 and a 200-day moving average price of $128.62. 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 (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.67 billion. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LYV shares. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Guggenheim lifted their price target 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. Rosenblatt Securities restated a "buy" rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Morgan Stanley lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Roth Mkm increased their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Friday, February 21st. 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 company has an average rating of "Moderate Buy" and an average target price of $157.27.

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.