State of Michigan Retirement System Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

State of Michigan Retirement System reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,511 shares of the company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Live Nation Entertainment were worth $5,505,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 1.5% in the fourth 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 period. Geode Capital Management LLC boosted its stake in Live Nation Entertainment by 9.4% in the 3rd 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 during the last quarter. Cantillon Capital Management LLC increased its stake in shares of 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 valued at $385,575,000 after acquiring an additional 15,891 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Live Nation Entertainment by 55.9% in 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 valued at $118,147,000 after purchasing an additional 387,008 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Live Nation Entertainment

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 transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on LYV. Bank of America lifted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Oppenheimer lifted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. TD Cowen upped their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup lifted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Roth Mkm increased their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Trading Down 4.3 %

NYSE:LYV opened at $130.90 on Friday. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The business’s 50-day simple moving average is $140.60 and its 200 day simple moving average is $125.32. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 48.13, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.