Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 791,070 shares of the company’s stock after selling 12,080 shares during the quarter. Primecap Management Co. CA’s holdings in Live Nation Entertainment were worth $86,614,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Select Equity Group L.P. boosted its stake in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. lifted its holdings in Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after purchasing an additional 855,197 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 85.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after buying an additional 476,981 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $20,453,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Roth Mkm upped their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen lifted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Citigroup increased their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.53.

Live Nation Entertainment Stock Up 1.5 %

NYSE LYV opened at $138.50 on Friday. The business has a 50 day moving average price of $115.91 and a two-hundred day moving average price of $101.88. The stock has a market cap of $32.18 billion, a PE ratio of 147.34, a P/E/G ratio of 3.59 and a beta of 1.33. Live Nation Entertainment, Inc. has a fifty-two week low of $81.38 and a fifty-two week high of $139.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the sale, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,799 shares of company stock valued at $16,449,718 in the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Company 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.