Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 31,271 shares of the company’s stock after selling 787 shares during the period. Retirement Systems of Alabama’s holdings in Live Nation Entertainment were worth $2,927,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Findlay Park Partners LLP increased its position in shares of Live Nation Entertainment by 55.1% in the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after buying an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. raised its position in Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after acquiring an additional 726,000 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Live Nation Entertainment by 104.2% in the fourth quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after purchasing an additional 606,743 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Live Nation Entertainment by 78.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock worth $105,961,000 after purchasing an additional 561,384 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Live Nation Entertainment by 5.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after buying an additional 429,650 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the subject of several recent research reports. JPMorgan Chase & Co. raised 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. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. TD Cowen reiterated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.00.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $96.35 on Wednesday. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 91.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50-day moving average is $98.67 and its 200-day moving average is $91.89.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the business posted ($0.25) EPS. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.85% of the company’s stock.

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.