Principal Financial Group Inc. Purchases 294,310 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Principal Financial Group Inc. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,596,509 shares of the company's stock after buying an additional 294,310 shares during the quarter. Principal Financial Group Inc. owned about 3.25% of Live Nation Entertainment worth $991,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after buying an additional 75 shares during the last quarter. Utah Retirement Systems lifted its stake in shares of Live Nation Entertainment by 0.4% in the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock worth $3,392,000 after buying an additional 100 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Live Nation Entertainment by 6.7% in the first quarter. Mather Group LLC. now owns 1,724 shares of the company's stock worth $225,000 after buying an additional 108 shares during the last quarter. BTC Capital Management Inc. lifted its stake in shares of Live Nation Entertainment by 2.7% in the first quarter. BTC Capital Management Inc. now owns 4,475 shares of the company's stock worth $584,000 after buying an additional 117 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in shares of Live Nation Entertainment by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock worth $2,559,000 after buying an additional 143 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded up $0.16 on Thursday, hitting $149.27. The company's stock had a trading volume of 925,403 shares, compared to its average volume of 2,333,807. The firm has a market cap of $34.60 billion, a P/E ratio of 50.95, a price-to-earnings-growth ratio of 5.78 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. The company has a fifty day moving average price of $141.88 and a 200-day moving average price of $136.86. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year 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 (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company's quarterly revenue was down 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LYV. Macquarie boosted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Roth Mkm cut their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Rosenblatt Securities cut their target price 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, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

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.