Marshall Wace LLP Decreases Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Marshall Wace LLP reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 99.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,766 shares of the company's stock after selling 24,217,323 shares during the quarter. Marshall Wace LLP's holdings in Live Nation Entertainment were worth $11,366,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in 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 valued at $945,635,000 after purchasing an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP raised its position in Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after purchasing an additional 3,168,210 shares in the last quarter. Geode Capital Management LLC raised its holdings in Live Nation Entertainment by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock valued at $500,107,000 after acquiring an additional 108,293 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the 4th 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. Finally, Artisan Partners Limited Partnership lifted its position in shares of Live Nation Entertainment by 19.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company's stock worth $353,946,000 after purchasing an additional 445,704 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LYV shares. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Morgan Stanley raised their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Benchmark reaffirmed a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Roth Mkm upped their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Live Nation Entertainment Price Performance

Shares of LYV traded up $0.23 on Friday, reaching $132.95. The stock had a trading volume of 1,277,513 shares, compared to its average volume of 2,242,644. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The firm has a market capitalization of $31.03 billion, a PE ratio of 48.88, a PEG ratio of 1.81 and a beta of 1.31. The firm has a 50-day moving average of $130.21 and a 200 day moving average of $131.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

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 for the quarter, beating analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 10,549 shares of the company's stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction 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 owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last ninety days. Corporate 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.