Arizona State Retirement System Acquires 752 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Arizona State Retirement System boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 46,827 shares of the company’s stock after purchasing an additional 752 shares during the period. Arizona State Retirement System’s holdings in Live Nation Entertainment were worth $6,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after purchasing an additional 75 shares during the period. SOA Wealth Advisors LLC. increased its position in shares of Live Nation Entertainment by 19.0% during the fourth 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 period. Western Pacific Wealth Management LP increased its position in shares of Live Nation Entertainment by 10.4% during the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after purchasing an additional 82 shares during the period. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after purchasing an additional 93 shares during the period. Finally, Gilbert & Cook Inc. increased its position in shares of Live Nation Entertainment by 1.7% during the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock valued at $707,000 after purchasing an additional 93 shares during the period. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research reports. Oppenheimer boosted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday. Evercore ISI boosted their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $127.56 on Friday. 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 $29.77 billion, a P/E ratio of 46.90, a P/E/G ratio of 1.81 and a beta of 1.38. The business’s fifty day moving average is $140.55 and its two-hundred day moving average is $125.36. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share 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.