Vanguard Group Inc. Trims Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Vanguard Group Inc. lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,169,852 shares of the company’s stock after selling 48,735 shares during the period. Vanguard Group Inc. owned about 8.25% of Live Nation Entertainment worth $2,482,496,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $31,000. World Investment Advisors LLC bought a new stake in Live Nation Entertainment in the third quarter valued at about $38,000. Morse Asset Management Inc acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment in the 4th quarter worth about $44,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction dated 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 in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LYV shares. Roth Mkm raised their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Morgan Stanley 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 Tuesday, February 18th. Finally, Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Up 0.1 %

LYV opened at $127.15 on Wednesday. The stock’s fifty day moving average is $138.58 and its 200-day moving average is $128.19. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a market capitalization of $29.68 billion, a PE ratio of 46.75, 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 issued its quarterly earnings results 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. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal 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.