New York State Common Retirement Fund Sells 18,683 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

New York State Common Retirement Fund lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,317 shares of the company's stock after selling 18,683 shares during the quarter. New York State Common Retirement Fund's holdings in Live Nation Entertainment were worth $12,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment in the 3rd quarter valued at $38,000. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $41,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment during the third quarter worth $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Activity

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LYV. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. TD Cowen increased their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Citigroup lifted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Live Nation Entertainment Stock Down 0.8 %

LYV traded down $1.19 during 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 company has a market cap of $32.76 billion, a P/E ratio of 51.83, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. 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 business's fifty day moving average price is $139.87 and its 200 day moving average price is $123.69.

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 business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.