FIL Ltd Has $42.70 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

FIL Ltd cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,702 shares of the company’s stock after selling 65,217 shares during the quarter. FIL Ltd’s holdings in Live Nation Entertainment were worth $42,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LYV. Groupama Asset Managment bought a new position in shares of Live Nation Entertainment in the 4th quarter worth about $259,000,000. Norges Bank acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $255,955,000. Massachusetts Financial Services Co. MA increased its holdings in Live Nation Entertainment by 34.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company’s stock worth $248,592,000 after purchasing an additional 496,202 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Live Nation Entertainment by 19.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after buying an additional 445,704 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 9.4% during 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 in the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Activity

In other news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last ninety days. 2.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on LYV shares. Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Bank of America boosted their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $174.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Benchmark restated a “buy” rating and set a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Stock Down 1.9 %

Live Nation Entertainment stock opened at $129.28 on Friday. 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 $30.17 billion, a PE ratio of 47.53, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The firm’s 50-day simple moving average is $134.96 and its 200 day simple moving average is $130.31.

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

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.