Teacher Retirement System of Texas Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Teacher Retirement System of Texas purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 23,598 shares of the company's stock, valued at approximately $3,081,000.

Several other large investors have also modified their holdings of LYV. Independent Franchise Partners LLP raised its position in Live Nation Entertainment by 207.6% in the fourth 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 period. Groupama Asset Managment purchased a new position in Live Nation Entertainment during the 4th quarter valued at about $259,000,000. Norges Bank acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $255,955,000. Jericho Capital Asset Management L.P. lifted its position in shares of 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 worth $415,447,000 after purchasing an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $88,394,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

LYV stock traded up $0.91 on Thursday, reaching $144.47. The company had a trading volume of 1,614,243 shares, compared to its average volume of 2,341,857. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The company's fifty day moving average is $143.55 and its 200 day moving average is $137.36. The company has a market cap of $33.48 billion, a P/E ratio of 49.31, a PEG ratio of 5.57 and a beta of 1.45. 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 released 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 firm 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%. Live Nation Entertainment's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LYV. Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein assumed 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 on the stock. Wolfe Research boosted their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Benchmark reaffirmed a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $165.24.

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.