Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 655.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,822 shares of the company's stock after purchasing an additional 78,807 shares during the period. Mackenzie Financial Corp's holdings in Live Nation Entertainment were worth $11,761,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $259,000,000. Norges Bank bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $255,955,000. Jericho Capital Asset Management L.P. raised its holdings in 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 valued at $415,447,000 after acquiring an additional 777,105 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $88,394,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the business's 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 completion of the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction that occurred on 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 directly owns 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,374 shares of company stock valued at $5,815,812. Insiders own 3.01% of the company's stock.

Live Nation Entertainment Price Performance

NYSE:LYV traded up $1.06 during trading hours on Friday, hitting $137.21. The company's stock had a trading volume of 6,715,548 shares, compared to its average volume of 2,270,610. The business's 50-day moving average is $133.59 and its two-hundred day moving average is $135.47. The company has a market capitalization of $31.80 billion, a PE ratio of 50.44, a PEG ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley raised 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. Susquehanna assumed coverage on Live Nation Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $155.00 price objective for the company. JPMorgan Chase & Co. raised 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 Friday, February 21st. Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, Benchmark restated a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research 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 stock. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average target price of $162.07.

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.