Boston Partners Trims Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Boston Partners cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 84.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,076 shares of the company’s stock after selling 72,036 shares during the quarter. Boston Partners’ holdings in Live Nation Entertainment were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYV. ValueAct Holdings L.P. purchased a new position in Live Nation Entertainment during the third quarter worth about $111,094,000. PointState Capital LP acquired a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after purchasing an additional 387,008 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in 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 valued at $155,851,000 after purchasing an additional 385,143 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 0.6 %

NYSE:LYV opened at $122.93 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. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a market cap of $28.69 billion, a P/E ratio of 45.20, a P/E/G ratio of 1.81 and a beta of 1.38. The stock has a 50-day simple moving average of $138.74 and a 200-day simple moving average of $127.26.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the subject of several research analyst reports. Bank of America raised their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction 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 owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their position. 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 ninety days. 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.