Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,596,509 shares of the company's stock after purchasing 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 SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter worth approximately $29,000. Murphy & Mullick Capital Management Corp purchased a new stake in Live Nation Entertainment during the fourth quarter worth approximately $40,000. Private Trust Co. NA grew its stake in Live Nation Entertainment by 94.2% during the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after buying an additional 196 shares during the period. Smartleaf Asset Management LLC grew its stake in Live Nation Entertainment by 17.9% during 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 period. Finally, SBI Securities Co. Ltd. purchased a new stake in Live Nation Entertainment during the fourth quarter worth approximately $74,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 0.1%

LYV traded up $0.16 during trading on Friday, hitting $149.27. The company had a trading volume of 925,403 shares, compared to its average volume of 2,336,666. The company has a market cap of $34.60 billion, a PE ratio of 50.95, a P/E/G ratio of 5.79 and a beta of 1.45. The business has a 50-day moving average of $142.53 and a 200-day moving average of $137.09. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its 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 business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The firm's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated 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. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.72% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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. Benchmark restated a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Wolfe Research upped their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Guggenheim restated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Roth Mkm decreased 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. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.