Public Sector Pension Investment Board Buys 3,200 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Public Sector Pension Investment Board raised its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 488,866 shares of the company’s stock after buying an additional 3,200 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Live Nation Entertainment worth $53,526,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYV. B. Riley Wealth Advisors Inc. increased its position in Live Nation Entertainment by 4.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 6,634 shares of the company’s stock worth $702,000 after purchasing an additional 286 shares during the period. California State Teachers Retirement System grew its position in shares of Live Nation Entertainment by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 257,860 shares of the company’s stock worth $27,274,000 after buying an additional 2,308 shares during the period. Tidal Investments LLC raised its stake in shares of Live Nation Entertainment by 81.5% during the first quarter. Tidal Investments LLC now owns 22,354 shares of the company’s stock worth $2,364,000 after buying an additional 10,040 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in Live Nation Entertainment in the first quarter valued at approximately $609,000. Finally, Plato Investment Management Ltd boosted its stake in Live Nation Entertainment by 3,291.8% in the first quarter. Plato Investment Management Ltd now owns 5,359 shares of the company’s stock valued at $567,000 after acquiring an additional 5,201 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LYV. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Citigroup raised their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Macquarie upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Benchmark lifted their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Guggenheim upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.53.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. The trade was a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 in the last ninety days. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Trading Up 0.6 %

LYV opened at $139.73 on Thursday. The firm’s fifty day simple moving average is $118.24 and its 200 day simple moving average is $102.87. The stock has a market capitalization of $32.47 billion, a P/E ratio of 148.65, a P/E/G ratio of 3.81 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

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.