Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,487 shares of the company’s stock after selling 280 shares during the period. UniSuper Management Pty Ltd’s holdings in Live Nation Entertainment were worth $2,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Amundi grew its holdings in Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after acquiring an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $226,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Live Nation Entertainment by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after acquiring an additional 48,949 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $754,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYV. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Bank of America upped 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. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday, February 20th. Roth Mkm upped their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Guggenheim lifted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Trading Down 2.4 %

NYSE:LYV opened at $125.05 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. 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 business has a 50 day simple moving average of $138.14 and a 200 day simple moving average of $128.62. The firm has a market capitalization of $29.19 billion, a P/E ratio of 45.97, a P/E/G ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is 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.