ValueAct Holdings L.P. Buys 46,816 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

ValueAct Holdings L.P. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,061,466 shares of the company's stock after acquiring an additional 46,816 shares during the period. Live Nation Entertainment comprises about 3.1% of ValueAct Holdings L.P.'s holdings, making the stock its 8th biggest position. ValueAct Holdings L.P. owned about 0.46% of Live Nation Entertainment worth $137,460,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LYV. Independent Franchise Partners LLP increased its stake in shares of Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares in the last quarter. Groupama Asset Managment purchased a new position in Live Nation Entertainment during the fourth quarter worth $259,000,000. Norges Bank purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $255,955,000. Jericho Capital Asset Management L.P. increased its position in Live Nation Entertainment by 32.0% during 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 purchasing an additional 777,105 shares in the last quarter. Finally, Capital World Investors raised its stake in Live Nation Entertainment by 54.2% in the 4th quarter. Capital World Investors now owns 1,707,284 shares of the company's stock valued at $221,093,000 after purchasing an additional 599,784 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company's stock, valued at $30,356,768.40. This represents a 24.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 3.01% of the company's stock.

Live Nation Entertainment Trading Up 0.5%

Shares of LYV opened at $148.41 on Tuesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. 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 cap of $34.40 billion, a PE ratio of 54.56, a P/E/G ratio of 1.81 and a beta of 1.47. The stock's 50-day moving average is $129.91 and its two-hundred day moving average is $134.33.

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 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 analysts' expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm's revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of recent research reports. Roth Mkm lowered their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Bank of America increased their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Finally, Macquarie upped their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.07.

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.

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