Primecap Management Co. CA Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Primecap Management Co. CA trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,775 shares of the company’s stock after selling 19,295 shares during the quarter. Primecap Management Co. CA’s holdings in Live Nation Entertainment were worth $99,945,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after purchasing an additional 105,648 shares in the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 321,832 shares in the last quarter. Cantillon Capital Management LLC grew its position 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 acquiring an additional 15,891 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Live Nation Entertainment by 18.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after purchasing an additional 284,623 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 purchasing an additional 385,143 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 2.3 %

NYSE LYV opened at $119.11 on Wednesday. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. 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 stock has a market capitalization of $27.80 billion, a P/E ratio of 43.79, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The stock has a fifty day moving average of $139.17 and a 200-day moving average of $127.15.

Live Nation Entertainment (NYSE:LYV) last posted 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. The firm 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%. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last 90 days. 2.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America lifted their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Roth Mkm lifted their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

About Live Nation Entertainment

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.