Charles Schwab Investment Management Inc. Buys 58,056 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Charles Schwab Investment Management Inc. lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 5.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,078,044 shares of the company's stock after acquiring an additional 58,056 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.47% of Live Nation Entertainment worth $140,771,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LYV. Independent Franchise Partners LLP lifted its holdings in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Live Nation Entertainment by 46.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after acquiring an additional 884,745 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after acquiring an additional 777,105 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Live Nation Entertainment by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after acquiring an additional 713,020 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Live Nation Entertainment in the fourth quarter worth $88,394,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

LYV stock traded up $0.52 on Wednesday, hitting $158.95. The company had a trading volume of 1,767,573 shares, compared to its average volume of 2,503,433. Live Nation Entertainment, Inc. has a 12-month low of $91.58 and a 12-month high of $159.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock's 50-day simple moving average is $148.16 and its 200 day simple moving average is $140.25. The stock has a market cap of $37.27 billion, a price-to-earnings ratio of 68.81, a P/E/G ratio of 6.97 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). The business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The company's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on LYV. Oppenheimer boosted their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday. Benchmark boosted their price target on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Rosenblatt Securities lowered their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wolfe Research boosted their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.41.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is owned by insiders.

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.