Daiwa Securities Group Inc. decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 24.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,300 shares of the company’s stock after selling 7,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Live Nation Entertainment were worth $1,035,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of LYV. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 8,038.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock worth $252,002,000 after purchasing an additional 5,715,400 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Live Nation Entertainment during the 4th quarter worth about $26,704,000. Scout Investments Inc. purchased a new stake in Live Nation Entertainment during the 3rd quarter worth about $24,217,000. Russell Investments Group Ltd. lifted its holdings in Live Nation Entertainment by 346.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 468,705 shares of the company’s stock worth $20,412,000 after purchasing an additional 363,634 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Live Nation Entertainment by 24.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,813,800 shares of the company’s stock worth $78,991,000 after purchasing an additional 356,715 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.
Live Nation Entertainment, Inc. (NYSE LYV) opened at $46.95 on Friday. The firm has a market capitalization of $9,710.00, a PE ratio of 2,347.50 and a beta of 1.01. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. Live Nation Entertainment, Inc. has a one year low of $28.00 and a one year high of $47.25.
A number of equities analysts have weighed in on the company. Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Friday, December 22nd. Jefferies Group upped their target price on Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Zacks Investment Research lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Finally, Macquarie restated a “buy” rating and issued a $52.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $44.57.
In other news, COO Joe Berchtold sold 20,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $43.08, for a total transaction of $861,600.00. Following the transaction, the chief operating officer now directly owns 97,918 shares in the company, valued at approximately $4,218,307.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Rapino sold 70,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total value of $3,000,900.00. Following the transaction, the chief executive officer now owns 115,277 shares in the company, valued at $4,941,924.99. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock worth $26,681,100 over the last 90 days. Corporate insiders own 4.77% of the company’s stock.
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About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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