California Public Employees Retirement System Has $34.24 Million Holdings in Live Nation Entertainment, Inc. $LYV

California Public Employees Retirement System decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,543 shares of the company’s stock after selling 6,806 shares during the quarter. California Public Employees Retirement System owned 0.10% of Live Nation Entertainment worth $34,245,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after buying an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after acquiring an additional 193,104 shares in the last quarter. Geode Capital Management LLC boosted its position in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after acquiring an additional 1,099,350 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after purchasing an additional 123,800 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $177.77 on Wednesday. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $188.00. The firm has a market capitalization of $41.87 billion, a price-to-earnings ratio of -100.43 and a beta of 1.11. The stock’s 50 day moving average price is $173.01 and its two-hundred day moving average price is $160.49. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the subject of several recent research reports. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday. Susquehanna cut shares of Live Nation Entertainment from a “positive” rating to a “neutral” rating and boosted their price target for the stock from $181.00 to $186.00 in a research report on Tuesday. Citizens Jmp began coverage on shares of Live Nation Entertainment in a research note on Monday, March 30th. They set a “market outperform” rating and a $190.00 price objective for the company. Finally, Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Nineteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.75.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.