Natixis Buys New Shares in Live Nation Entertainment, Inc. (NYSE:LYV)

Natixis purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,117 shares of the company’s stock, valued at approximately $1,569,000.

Several other hedge funds have also recently made changes to their positions in LYV. Ossiam grew its stake in Live Nation Entertainment by 38.9% during the fourth quarter. Ossiam now owns 718 shares of the company’s stock worth $93,000 after purchasing an additional 201 shares during the period. Norinchukin Bank The boosted its position in shares of Live Nation Entertainment by 8.2% during the 4th quarter. Norinchukin Bank The now owns 6,904 shares of the company’s stock worth $894,000 after purchasing an additional 525 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Live Nation Entertainment by 123.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,260 shares of the company’s stock valued at $1,717,000 after buying an additional 7,317 shares during the period. Capital World Investors increased its position in Live Nation Entertainment by 54.2% in the 4th quarter. Capital World Investors now owns 1,707,284 shares of the company’s stock valued at $221,093,000 after buying an additional 599,784 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Live Nation Entertainment by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 984,603 shares of the company’s stock worth $127,528,000 after buying an additional 80,109 shares during the period. 74.52% of the stock is owned by institutional investors.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment 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 transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 over the last quarter. Corporate insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LYV shares. Benchmark reaffirmed a “buy” rating and set a $178.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Bank of America upped their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Morgan Stanley increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $160.33.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $128.80 on Wednesday. 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 $131.52 and its 200 day simple moving average is $131.32. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a market cap of $30.06 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly 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 company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.