California State Teachers Retirement System Sells 15,923 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

California State Teachers Retirement System lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,300 shares of the company's stock after selling 15,923 shares during the quarter. California State Teachers Retirement System owned 0.10% of Live Nation Entertainment worth $31,378,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LYV. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $29,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $40,000. Golden State Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $42,000. Independence Bank of Kentucky acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $53,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Up 0.8%

Shares of NYSE:LYV traded up $1.06 during midday trading on Friday, hitting $137.21. The company had a trading volume of 6,715,548 shares, compared to its average volume of 2,270,511. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $31.80 billion, a price-to-earnings ratio of 50.44, a PEG ratio of 1.81 and a beta of 1.47. The firm has a fifty day simple moving average of $133.59 and a 200 day simple moving average of $135.37.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) 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 company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm's revenue for the quarter was down 11.0% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of recent research reports. Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Roth Mkm dropped their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Bank of America raised their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $162.07.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was 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 in the company, valued at approximately $1,300,058.76. The trade was a 32.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president now owns 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,374 shares of company stock worth $5,815,812 in the last three months. Insiders own 3.01% of the company's stock.

About Live Nation Entertainment

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.