Strs Ohio Buys Shares of 40,000 Live Nation Entertainment, Inc. (NYSE:LYV)

Strs Ohio bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,000 shares of the company’s stock, valued at approximately $3,744,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. grew its stake in Live Nation Entertainment by 178.2% in the fourth quarter. Vontobel Holding Ltd. now owns 16,850 shares of the company’s stock valued at $1,577,000 after purchasing an additional 10,794 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $805,000. Cerity Partners LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $796,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $374,000. Finally, Tobam acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Rosenblatt Securities reduced their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $114.00 in a research report on Friday, January 12th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Morgan Stanley boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Live Nation Entertainment Trading Down 2.4 %

Live Nation Entertainment stock opened at $89.64 on Friday. The business has a 50 day moving average price of $99.01 and a two-hundred day moving average price of $91.35. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 67.40 and a beta of 1.30. Live Nation Entertainment, Inc. has a 12 month low of $64.96 and a 12 month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

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.