Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by National Pension Service

National Pension Service cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,902 shares of the company’s stock after selling 33,865 shares during the quarter. National Pension Service owned approximately 0.12% of Live Nation Entertainment worth $35,341,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SOA Wealth Advisors LLC. grew its stake in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the last quarter. Western Pacific Wealth Management LP boosted its stake in shares of Live Nation Entertainment by 10.4% in the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after buying an additional 82 shares in the last quarter. Private Advisor Group LLC raised its holdings in Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares during the last quarter. UMB Bank n.a. raised its holdings in Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after purchasing an additional 93 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its holdings in Live Nation Entertainment by 1.7% during the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after purchasing an additional 93 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm’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 sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYV. TD Cowen boosted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Guggenheim upped their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Live Nation Entertainment Trading Up 1.7 %

Shares of NYSE LYV opened at $143.35 on Friday. The company has a market cap of $33.31 billion, a price-to-earnings ratio of 52.70, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock’s 50 day simple moving average is $140.25 and its 200 day simple moving average is $124.17.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

About Live Nation Entertainment

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.