Geode Capital Management LLC Buys 108,293 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Geode Capital Management LLC increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,871,850 shares of the company’s stock after buying an additional 108,293 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Live Nation Entertainment worth $500,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LYV. Norges Bank bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $255,955,000. ValueAct Holdings L.P. purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $111,094,000. Artisan Partners Limited Partnership grew its stake in shares of Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after buying an additional 445,704 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Live Nation Entertainment by 18.7% in the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after buying an additional 284,623 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after acquiring an additional 105,648 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley increased their target price 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. Rosenblatt Securities reiterated a “buy” rating and set a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Benchmark reissued a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Trading Down 6.6 %

NYSE LYV opened at $125.80 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a 50 day moving average price of $137.55 and a 200 day moving average price of $129.32. 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 firm has a market cap of $29.36 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The business had revenue of $5.68 billion for 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, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 63,136 shares of the firm’s 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 represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by insiders.

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.