Fernbridge Capital Management LP Sells 81,776 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Fernbridge Capital Management LP cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,133 shares of the company's stock after selling 81,776 shares during the quarter. Live Nation Entertainment makes up 2.3% of Fernbridge Capital Management LP's portfolio, making the stock its 14th largest position. Fernbridge Capital Management LP owned about 0.14% of Live Nation Entertainment worth $43,141,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth about $38,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $40,000. Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment during the third quarter worth $42,000. Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $44,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYV has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Bank of America raised their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Macquarie upped their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.13.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brian Capo sold 5,066 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Up 2.1 %

Shares of NYSE:LYV traded up $2.74 during midday trading on Friday, reaching $134.08. 2,074,866 shares of the company were exchanged, compared to its average volume of 2,245,664. The stock has a fifty day simple moving average of $128.60 and a two-hundred day simple moving average of $132.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market cap of $31.29 billion, a PE ratio of 49.30, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the firm earned $0.60 EPS. Live Nation Entertainment's revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.