Russell Investments Group Ltd. Sells 16,785 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Russell Investments Group Ltd. trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 410,843 shares of the company’s stock after selling 16,785 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Live Nation Entertainment worth $38,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its holdings in Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Live Nation Entertainment in the third quarter valued at $33,000. Cary Street Partners Investment Advisory LLC increased its holdings in Live Nation Entertainment by 9,800.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after purchasing an additional 490 shares during the period. Tobam acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $59,000. Finally, Headlands Technologies LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $88,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.85% of the stock is owned by insiders.

Live Nation Entertainment Price Performance

LYV stock opened at $90.54 on Tuesday. The stock has a market capitalization of $20.90 billion, a PE ratio of 68.08 and a beta of 1.30. The company’s 50-day moving average is $98.82 and its 200-day moving average is $91.62. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1 year low of $66.38 and a 1 year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last announced 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 net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of recent analyst reports. TD Cowen reiterated a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Morgan Stanley increased their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Roth Mkm reiterated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 23rd. Finally, Oppenheimer increased their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.30.

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.