Public Employees Retirement System of Ohio Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Public Employees Retirement System of Ohio acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 72,966 shares of the company's stock, valued at approximately $9,449,000.

Other institutional investors have also added to or reduced their stakes in the company. Independent Franchise Partners LLP increased its stake in shares of 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 valued at $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Groupama Asset Managment bought a new position in Live Nation Entertainment in the fourth quarter valued at about $259,000,000. Norges Bank acquired a new position in Live Nation Entertainment during the fourth quarter worth about $255,955,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of Live Nation Entertainment by 32.0% in 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 during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $88,394,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Bank of America boosted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Roth Mkm cut their price target on 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, Rosenblatt Securities reduced their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.07.

Live Nation Entertainment Trading Down 3.0%

LYV traded down $4.25 during trading on Thursday, reaching $135.97. 9,569,238 shares of the stock traded hands, compared to its average volume of 2,245,827. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock's 50-day moving average is $133.22 and its 200 day moving average is $135.23. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The stock has a market capitalization of $31.51 billion, a PE ratio of 49.99, a P/E/G ratio of 1.81 and a beta of 1.47.

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

Insiders Place Their Bets

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,374 shares of company stock worth $5,815,812. Corporate insiders own 3.01% of the company's stock.

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.