Charles Schwab Investment Management Inc. Raises Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Charles Schwab Investment Management Inc. increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,019,988 shares of the company’s stock after acquiring an additional 48,949 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Live Nation Entertainment were worth $132,088,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LYV. 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 in the last quarter. Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 9.4% during 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 increased its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock worth $385,575,000 after buying an additional 15,891 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Live Nation Entertainment by 37.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after buying an additional 385,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after buying an additional 387,008 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LYV has been the topic of a number of analyst reports. Citigroup lifted their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Roth Mkm upped their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. TD Cowen increased their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Down 2.7 %

Shares of Live Nation Entertainment stock opened at $127.56 on Friday. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve 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 business’s 50 day simple moving average is $140.47 and its 200-day simple moving average is $125.78.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share 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 firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment 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.