Pictet Asset Management Holding SA Has $58.71 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Pictet Asset Management Holding SA trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 453,370 shares of the company’s stock after selling 33,502 shares during the quarter. Pictet Asset Management Holding SA owned 0.20% of Live Nation Entertainment worth $58,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after acquiring an additional 105,648 shares during the period. Geode Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock worth $385,575,000 after purchasing an additional 15,891 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Live Nation Entertainment by 19.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after purchasing an additional 445,704 shares during the last quarter. Finally, Norges Bank acquired a new position in Live Nation Entertainment in the fourth quarter valued at about $255,955,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

LYV stock opened at $125.05 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. 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 company has a market cap of $29.19 billion, a P/E ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The business’s fifty day moving average is $138.14 and its 200-day moving average is $128.62.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on LYV shares. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Bank of America boosted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Macquarie raised their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price 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.