Cooke & Bieler LP Lowers Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Cooke & Bieler LP cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 282,970 shares of the company’s stock after selling 71,350 shares during the period. Cooke & Bieler LP’s holdings in Live Nation Entertainment were worth $36,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the third quarter valued at about $31,000. World Investment Advisors LLC bought a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $38,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $42,000. Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Live Nation Entertainment in the 4th quarter worth approximately $44,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Down 3.9 %

Live Nation Entertainment stock opened at $122.57 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $28.61 billion, a P/E ratio of 45.06, a PEG ratio of 1.81 and a beta of 1.38. The stock has a 50-day simple moving average of $140.30 and a 200 day simple moving average of $126.17.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LYV. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI raised their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment 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.