Elo Mutual Pension Insurance Co Purchases 2,009 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Elo Mutual Pension Insurance Co boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,294 shares of the company’s stock after acquiring an additional 2,009 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Live Nation Entertainment were worth $2,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LYV. Artisan Partners Limited Partnership lifted its stake in shares of Live Nation Entertainment by 19.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after purchasing an additional 445,704 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Live Nation Entertainment by 12.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 252,264 shares of the company’s stock worth $32,666,000 after buying an additional 28,288 shares during the last quarter. Korea Investment CORP boosted its stake in shares of Live Nation Entertainment by 21.0% during the 4th quarter. Korea Investment CORP now owns 135,206 shares of the company’s stock worth $17,509,000 after acquiring an additional 23,456 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $505,000. Finally, Trust Investment Advisors bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at approximately $245,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment 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 transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents 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 in the last 90 days. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Trading Down 2.4 %

Shares of Live Nation Entertainment stock opened at $125.05 on Friday. The company’s fifty day moving average price is $138.14 and its two-hundred day moving average price is $128.62. The firm has a market capitalization of $29.19 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. 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 current ratio of 1.01 and a quick ratio of 1.01.

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

Analyst Ratings Changes

Several equities analysts have commented on LYV shares. Macquarie increased their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Roth Mkm lifted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Finally, Morgan Stanley raised their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

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.