Healthcare of Ontario Pension Plan Trust Fund Raises Position in Live Nation Entertainment, Inc. $LYV

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,922 shares of the company’s stock after buying an additional 3,680 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Live Nation Entertainment were worth $27,897,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LYV. Principal Financial Group Inc. lifted its stake in Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP grew its stake in shares of Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after acquiring an additional 193,104 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 0.5% in the fourth 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. Jericho Capital Asset Management L.P. raised its holdings in shares of Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Live Nation Entertainment by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after purchasing an additional 123,800 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.0%

Live Nation Entertainment stock opened at $177.29 on Monday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $188.00. The firm has a market capitalization of $41.76 billion, a price-to-earnings ratio of -100.16 and a beta of 1.11. 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 firm has a 50 day simple moving average of $173.49 and a 200 day simple moving average of $161.18.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned ($0.32) EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group upped their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Guggenheim lifted their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Rothschild & Co Redburn boosted their target price on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.95.

Insiders Place Their Bets

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 transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of the company’s 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 sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Profile

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.