Primecap Management Co. CA Sells 12,080 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Primecap Management Co. CA lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 791,070 shares of the company's stock after selling 12,080 shares during the period. Primecap Management Co. CA owned approximately 0.34% of Live Nation Entertainment worth $86,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. grew its position in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $41,000 after buying an additional 176 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $41,000. Family Firm Inc. purchased a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $42,000. Finally, Cromwell Holdings LLC raised its holdings in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock worth $47,000 after purchasing an additional 88 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In related news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company's stock, valued at $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 5,640 shares of Live Nation Entertainment stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now directly owns 53,949 shares of the company's stock, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock worth $16,449,718 over the last 90 days. Company insiders own 2.72% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of several recent research reports. Roth Mkm raised their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Bank of America lifted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Benchmark increased their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

Live Nation Entertainment Trading Up 1.2 %

Shares of NYSE:LYV traded up $1.69 during trading on Friday, hitting $140.26. The company had a trading volume of 1,679,433 shares, compared to its average volume of 2,176,177. The stock has a market cap of $32.59 billion, a price-to-earnings ratio of 149.21, a price-to-earnings-growth ratio of 3.59 and a beta of 1.33. 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 company has a fifty day simple moving average of $116.74 and a two-hundred day simple moving average of $102.18. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $140.29.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.08 earnings per share 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.