Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 90.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,787 shares of the company's stock after selling 200,612 shares during the period. KBC Group NV's holdings in Live Nation Entertainment were worth $2,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock valued at $1,120,177,000 after purchasing an additional 44,703 shares during the last quarter. Independent Franchise Partners LLP lifted its position in shares of Live Nation Entertainment by 207.6% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Live Nation Entertainment by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock worth $500,107,000 after acquiring an additional 108,293 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of Live Nation Entertainment by 32.0% during the fourth 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 in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Live Nation Entertainment by 19.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company's stock valued at $353,946,000 after acquiring an additional 445,704 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was 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 of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Benchmark reaffirmed a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Wolfe Research lifted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Roth Mkm decreased their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and an average target price of $165.24.

Live Nation Entertainment Stock Down 1.3%

Shares of NYSE LYV traded down $1.90 during trading hours on Monday, hitting $147.37. 2,612,880 shares of the stock were exchanged, compared to its average volume of 2,337,771. The firm has a fifty day moving average price of $142.82 and a 200-day moving average price of $137.18. The company has a market cap of $34.16 billion, a PE ratio of 50.30, a PEG ratio of 5.79 and a beta of 1.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. Live Nation Entertainment, Inc. has a 12 month low of $87.33 and a 12 month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business's revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.