Schroder Investment Management Group Sells 5,096,904 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Schroder Investment Management Group lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 98.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 98,468 shares of the company’s stock after selling 5,096,904 shares during the quarter. Schroder Investment Management Group’s holdings in Live Nation Entertainment were worth $12,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter worth $38,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $40,000. Morse Asset Management Inc purchased a new stake in Live Nation Entertainment during the third quarter valued at $42,000. Golden State Wealth Management LLC bought a new position in Live Nation Entertainment during the fourth quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth $44,000. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 in the last three months. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Down 6.6 %

Shares of NYSE:LYV opened at $125.80 on Friday. The business’s 50 day moving average is $137.55 and its 200 day moving average is $129.32. The stock has a market cap of $29.36 billion, a P/E ratio of 46.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results 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 the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

LYV has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and set a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday. Morgan Stanley raised 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. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Roth Mkm raised their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Benchmark reiterated a “buy” rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday. Two research 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.33.

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.