Live Nation Entertainment, Inc. $LYV Shares Sold by Public Employees Retirement Association of Colorado

Key Points

• Public Employees Retirement Association of Colorado cut its Live Nation stake by 55.6% in the fourth quarter, selling 109,500 shares and leaving it with 87,490 shares valued at about $12.47 million.
• Two Live Nation executives also sold significant blocks of stock in early May: Michael Rowles sold 63,776 shares and John Hopmans sold 93,078 shares, reducing their ownership positions materially.
• Live Nation reported a quarterly earnings miss with EPS of -$1.85 versus expectations of -$0.35, but revenue came in above forecasts at $3.79 billion and rose 12.1% year over year; analysts remain mostly bullish with a Moderate Buy consensus and an average target price of $188.50.

Public Employees Retirement Association of Colorado decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 55.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,490 shares of the company's stock after selling 109,500 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Live Nation Entertainment were worth $12,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock worth $262,733,000 after purchasing an additional 759,363 shares during the period. Geode Capital Management LLC lifted its holdings in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock valued at $610,707,000 after acquiring an additional 20,165 shares during the period. L2 Asset Management LLC lifted its holdings in Live Nation Entertainment by 70.4% in the third quarter. L2 Asset Management LLC now owns 35,019 shares of the company's stock valued at $5,722,000 after acquiring an additional 14,470 shares during the period. Vanguard Group Inc. lifted its holdings in Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company's stock valued at $3,378,970,000 after acquiring an additional 372,715 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Live Nation Entertainment by 14.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company's stock valued at $88,227,000 after acquiring an additional 78,171 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company's stock.

Live Nation Entertainment Trading Up 1.7%

Shares of LYV stock opened at $175.51 on Tuesday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $41.34 billion, a price-to-earnings ratio of -99.16 and a beta of 1.12. The stock has a 50 day simple moving average of $162.96 and a 200-day simple moving average of $153.24. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $176.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company earned ($0.32) earnings per share. The company's quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LYV shares. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Bank of America boosted their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, February 20th. Susquehanna boosted their price target on Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Finally, Benchmark reissued a "buy" rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.50.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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