USS Investment Management Ltd Sells 8,832 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

USS Investment Management Ltd cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,366 shares of the company's stock after selling 8,832 shares during the period. USS Investment Management Ltd's holdings in Live Nation Entertainment were worth $3,155,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Measured Risk Portfolios Inc. purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $40,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $42,000. Independence Bank of Kentucky bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $53,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on LYV. Macquarie lifted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Roth Mkm cut their target price on 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. Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Benchmark reissued a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.07.

Live Nation Entertainment Stock Performance

Shares of LYV traded down $3.78 during trading hours on Thursday, hitting $136.44. The stock had a trading volume of 3,220,801 shares, compared to its average volume of 2,221,488. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day moving average price of $133.22 and a 200 day moving average price of $135.23. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The firm has a market capitalization of $31.62 billion, a price-to-earnings ratio of 50.06, a PEG ratio of 1.81 and a beta of 1.47.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The company 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%. The company's quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now directly owns 52,624 shares of the company's stock, valued at $6,470,120.80. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,374 shares of company stock worth $5,815,812 in the last 90 days. 3.01% of the stock is owned by company insiders.

Live Nation Entertainment Company 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.