Groupama Asset Managment Purchases New Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,000,000 shares of the company’s stock, valued at approximately $259,000,000. Live Nation Entertainment comprises about 1.9% of Groupama Asset Managment’s holdings, making the stock its 15th biggest holding. Groupama Asset Managment owned approximately 0.86% of Live Nation Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of LYV. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Live Nation Entertainment by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 96,824 shares of the company’s stock worth $10,601,000 after acquiring an additional 7,143 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Live Nation Entertainment by 24.9% during the third quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock worth $477,000 after purchasing an additional 870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Live Nation Entertainment by 55.9% during the third 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 in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of Live Nation Entertainment by 102.1% in the third quarter. Edgestream Partners L.P. now owns 5,308 shares of the company’s stock valued at $581,000 after purchasing an additional 2,681 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction 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 $30,356,768.40. This 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 is available at 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 completion of the sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,702 shares of company stock worth $10,497,143. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYV. Roth Mkm upped their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Macquarie upped their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted 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. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Price Performance

LYV opened at $130.71 on Tuesday. The stock has a market cap of $30.51 billion, a P/E ratio of 48.06, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a fifty day simple moving average of $138.04 and a 200 day simple moving average of $129.07.

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, 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. On average, research analysts expect 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.