Geode Capital Management LLC Raises Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Geode Capital Management LLC boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,871,850 shares of the company’s stock after purchasing an additional 108,293 shares during the quarter. Geode Capital Management LLC’s holdings in Live Nation Entertainment were worth $500,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of LYV. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter valued at $38,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $40,000. Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment in the third quarter worth about $42,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $44,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of analyst reports. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Bank of America upped 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 report on Monday, February 24th. 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. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Benchmark reissued a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $125.80 on Friday. The company has a fifty day simple moving average of $137.55 and a 200-day simple moving average of $129.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $29.36 billion, a price-to-earnings ratio of 46.25, a PEG 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.

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

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the 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 directly 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 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 corporate insiders.

About Live Nation Entertainment

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.