Principal Financial Group Inc. Boosts Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Principal Financial Group Inc. lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,302,199 shares of the company's stock after purchasing an additional 105,648 shares during the period. Principal Financial Group Inc. owned about 3.14% of Live Nation Entertainment worth $945,635,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LYV. ValueAct Holdings L.P. bought a new position in shares of Live Nation Entertainment in the third quarter worth about $111,094,000. PointState Capital LP bought a new position in shares of Live Nation Entertainment in the third quarter worth about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Live Nation Entertainment by 55.9% during the 3rd 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 acquiring an additional 387,008 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 acquiring an additional 385,143 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 worth $410,664,000 after acquiring an additional 321,832 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

LYV traded down $1.13 during trading on Wednesday, reaching $153.53. 1,152,501 shares of the company's stock were exchanged, compared to its average volume of 1,834,658. 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 stock has a market capitalization of $35.67 billion, a P/E ratio of 163.49, a price-to-earnings-growth ratio of 1.78 and a beta of 1.38. The company's fifty day simple moving average is $138.26 and its 200-day simple moving average is $121.43. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $155.10.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LYV. Oppenheimer increased their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Evercore ISI increased their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Macquarie increased their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Benchmark raised their price target on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $151.47.

Live Nation Entertainment Company Profile

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.