Victory Capital Management Inc. Sells 2,249 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Victory Capital Management Inc. decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,956 shares of the company's stock after selling 2,249 shares during the quarter. Victory Capital Management Inc.'s holdings in Live Nation Entertainment were worth $14,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYV. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company's stock worth $945,635,000 after buying an additional 105,648 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 worth $410,664,000 after buying an additional 321,832 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company's stock worth $385,575,000 after buying an additional 15,891 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company's stock worth $155,851,000 after buying an additional 385,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Live Nation Entertainment by 55.9% during 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 worth $118,147,000 after buying an additional 387,008 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LYV shares. Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. StockNews.com upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $157.27.

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Live Nation Entertainment Stock Performance

Shares of LYV opened at $122.84 on Thursday. The stock's 50-day simple moving average is $140.00 and its 200 day simple moving average is $126.32. The stock has a market capitalization of $28.67 billion, a price-to-earnings ratio of 45.16, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 139.09% and a net margin of 3.90%. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is currently owned by insiders.

Live Nation Entertainment 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.

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