Los Angeles Capital Management LLC Has $117.36 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Los Angeles Capital Management LLC reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,253,873 shares of the company’s stock after selling 22,150 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Live Nation Entertainment were worth $117,363,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in Live Nation Entertainment by 5.1% during the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after purchasing an additional 429,650 shares during the period. Principal Financial Group Inc. increased its stake in shares of Live Nation Entertainment by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after acquiring an additional 33,215 shares in the last quarter. Findlay Park Partners LLP lifted its position in shares of Live Nation Entertainment by 55.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after acquiring an additional 1,087,264 shares during the period. William Blair Investment Management LLC boosted its stake in Live Nation Entertainment by 5.7% during the third quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock worth $221,858,000 after acquiring an additional 144,326 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its holdings in Live Nation Entertainment by 52.8% in the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after purchasing an additional 726,000 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Down 0.0 %

NYSE:LYV traded down $0.03 on Thursday, hitting $89.25. The stock had a trading volume of 1,121,000 shares, compared to its average volume of 2,245,346. Live Nation Entertainment, Inc. has a 1 year low of $66.38 and a 1 year high of $107.24. The firm’s fifty day simple moving average is $98.71 and its two-hundred day simple moving average is $91.63. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $20.60 billion, a P/E ratio of 66.34 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. Analysts predict that Live Nation Entertainment, Inc. will post 1.62 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TD Cowen reissued a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Morgan Stanley increased their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Oppenheimer boosted their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Roth Mkm reissued a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. Finally, Rosenblatt Securities lowered their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.64.

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.