California Public Employees Retirement System Boosts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

California Public Employees Retirement System lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 288,492 shares of the company’s stock after acquiring an additional 4,880 shares during the period. California Public Employees Retirement System owned 0.13% of Live Nation Entertainment worth $27,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its position in shares of Live Nation Entertainment by 0.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock worth $2,324,000 after purchasing an additional 117 shares during the last quarter. Hohimer Wealth Management LLC increased its position in shares of Live Nation Entertainment by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock worth $956,000 after purchasing an additional 123 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Live Nation Entertainment by 1.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock worth $1,100,000 after purchasing an additional 130 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC increased its position in shares of Live Nation Entertainment by 1.1% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 13,179 shares of the company’s stock worth $1,094,000 after purchasing an additional 146 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Live Nation Entertainment by 5.9% during the 4th quarter. Raymond James Trust N.A. now owns 2,628 shares of the company’s stock worth $246,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. Oppenheimer boosted their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, TD Cowen restated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.30.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $89.83 on Friday. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a fifty day moving average price of $98.87 and a 200 day moving average price of $91.56. Live Nation Entertainment, Inc. has a 1-year low of $65.20 and a 1-year high of $107.24. The company has a market cap of $20.73 billion, a PE ratio of 67.54 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.85% of the stock is currently owned by company insiders.

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.