Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Blue Grotto Capital LLC

Blue Grotto Capital LLC trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,000 shares of the company’s stock after selling 20,000 shares during the period. Live Nation Entertainment makes up about 4.3% of Blue Grotto Capital LLC’s portfolio, making the stock its 12th largest holding. Blue Grotto Capital LLC owned 0.08% of Live Nation Entertainment worth $23,310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised 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 worth $945,635,000 after acquiring an additional 105,648 shares in the last quarter. Geode Capital Management LLC grew 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 worth $410,664,000 after purchasing an additional 321,832 shares during the last quarter. Cantillon Capital Management LLC raised 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 in the last quarter. William Blair Investment Management LLC boosted its holdings in Live Nation Entertainment by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after buying an additional 284,623 shares in the last quarter. Finally, Amundi grew its position in Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after buying an additional 39,302 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents 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 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 owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYV. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Bank of America lifted their price target 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. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Roth Mkm boosted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Price Performance

Shares of LYV opened at $127.15 on Wednesday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $29.68 billion, a PE ratio of 46.75, 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 firm’s 50 day moving average price is $138.58 and its 200 day moving average price is $128.19.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data 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. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, research analysts expect 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.