Primecap Management Co. CA Sells 19,295 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Primecap Management Co. CA lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 771,775 shares of the company’s stock after selling 19,295 shares during the period. Primecap Management Co. CA owned 0.33% of Live Nation Entertainment worth $99,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LYV. William Blair Investment Management LLC increased its position in Live Nation Entertainment by 18.7% in the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after purchasing an additional 284,623 shares during the last quarter. Parallel Advisors LLC increased its position in Live Nation Entertainment by 8.9% in the fourth quarter. Parallel Advisors LLC now owns 5,057 shares of the company’s stock worth $655,000 after purchasing an additional 414 shares during the last quarter. Cibc World Markets Corp increased its position in Live Nation Entertainment by 2.3% in the fourth quarter. Cibc World Markets Corp now owns 127,166 shares of the company’s stock worth $16,468,000 after purchasing an additional 2,882 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Live Nation Entertainment by 250.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 700 shares of the company’s stock worth $91,000 after purchasing an additional 500 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Live Nation Entertainment by 39.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,802 shares of the company’s stock worth $751,000 after purchasing an additional 1,648 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,702 shares of company stock worth $10,497,143. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $119.11 on Wednesday. The company’s fifty day moving average price is $139.17 and its 200 day moving average price is $127.15. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a market capitalization of $27.80 billion, a P/E ratio of 43.79, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on LYV shares. Bank of America lifted 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 note on Monday, February 24th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Roth Mkm upped 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped 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 note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.27.

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.