Live Nation Entertainment, Inc. $LYV Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 55.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,490 shares of the company’s stock after selling 109,500 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Live Nation Entertainment were worth $12,467,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares during the last quarter. Geode Capital Management LLC raised its stake in Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the last quarter. L2 Asset Management LLC raised its stake in Live Nation Entertainment by 70.4% in the 3rd quarter. L2 Asset Management LLC now owns 35,019 shares of the company’s stock valued at $5,722,000 after purchasing an additional 14,470 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after acquiring an additional 372,715 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Live Nation Entertainment by 14.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock worth $88,227,000 after acquiring an additional 78,171 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on LYV shares. Susquehanna raised their target price on Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. Finally, Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.50.

Live Nation Entertainment Stock Up 1.7%

Shares of NYSE:LYV opened at $175.51 on Tuesday. The business has a 50-day moving average price of $162.96 and a 200 day moving average price of $153.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market capitalization of $41.34 billion, a price-to-earnings ratio of -99.16 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $176.00.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.