Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Simmons Bank

Simmons Bank cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,084 shares of the company’s stock after selling 100 shares during the quarter. Simmons Bank’s holdings in Live Nation Entertainment were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after purchasing an additional 105,648 shares during the period. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 321,832 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after purchasing an additional 385,143 shares during the period. 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 valued at $118,147,000 after purchasing an additional 387,008 shares in the last quarter. Finally, ValueAct Holdings L.P. purchased a new position in Live Nation Entertainment in the 3rd quarter valued at about $111,094,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday, February 20th. TD Cowen raised their price objective 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. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America increased their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $140.97 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. 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 fifty day moving average price of $140.05 and a two-hundred day moving average price of $123.81. The firm 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 (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The company 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%. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is currently owned by company 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.