Live Nation Entertainment, Inc. $LYV Stake Increased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,894 shares of the company’s stock after acquiring an additional 2,893 shares during the period. Rockefeller Capital Management L.P.’s holdings in Live Nation Entertainment were worth $2,122,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LYV. Axxcess Wealth Management LLC grew its holdings in Live Nation Entertainment by 4.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after acquiring an additional 75 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. grew its stake in Live Nation Entertainment by 5.0% in the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in Live Nation Entertainment by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after buying an additional 82 shares during the last quarter. Finally, Ameriflex Group Inc. raised its stake in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the company’s 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 owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% 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, EVP Michael Rowles sold 63,776 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LYV shares. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Rothschild & Co Redburn boosted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Live Nation Entertainment Stock Up 1.5%

NYSE:LYV opened at $182.21 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a 50 day moving average of $165.46 and a 200-day moving average of $155.99. The firm has a market capitalization of $42.92 billion, a PE ratio of -102.94 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $183.51.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (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 company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the business posted ($0.32) EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

About Live Nation Entertainment

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.