Universal Beteiligungs und Servicegesellschaft mbH Acquires New Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 68,454 shares of the company's stock, valued at approximately $8,865,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in shares of Live Nation Entertainment by 0.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock worth $1,120,177,000 after purchasing an additional 44,703 shares during the period. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company's stock valued at $945,635,000 after acquiring an additional 105,648 shares during the period. Independent Franchise Partners LLP boosted its stake in shares of Live Nation Entertainment by 207.6% during 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. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock worth $500,107,000 after buying an additional 108,293 shares during the period. Finally, Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after buying an additional 777,105 shares during the period. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

NYSE LYV traded up $3.69 during trading hours on Wednesday, hitting $140.33. The company had a trading volume of 4,161,993 shares, compared to its average volume of 2,301,436. The business has a 50 day moving average of $134.29 and a 200-day moving average of $135.58. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a market cap of $32.52 billion, a PE ratio of 51.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. 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 (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS 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 analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Live Nation Entertainment's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's 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 sale, the executive vice president now owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 $1,300,058.76. This represents a 32.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,374 shares of company stock worth $5,815,812. 2.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Susquehanna initiated coverage on shares of Live Nation Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $155.00 price objective on the stock. Macquarie lifted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Sanford C. Bernstein assumed coverage on Live Nation Entertainment in a research report on Wednesday. They set an "outperform" rating and a $185.00 target price on the stock. Finally, Bank of America increased their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $163.50.

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.