Woodline Partners LP Buys Shares of 55,974 Live Nation Entertainment, Inc. (NYSE:LYV)

Woodline Partners LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,974 shares of the company's stock, valued at approximately $7,249,000.

Other hedge funds have also recently modified their holdings of the company. Amundi grew its stake in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after purchasing an additional 33,980 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $226,000. Aviva PLC lifted its holdings in Live Nation Entertainment by 1,524.1% in the 4th quarter. Aviva PLC now owns 97,057 shares of the company's stock valued at $12,569,000 after purchasing an additional 91,081 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock worth $132,088,000 after acquiring an additional 48,949 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on LYV. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Susquehanna began coverage on shares of Live Nation Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $155.00 price target on the stock. Benchmark reissued a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Bank of America increased their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, Rosenblatt Securities reduced their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.07.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded down $3.93 during midday trading on Thursday, reaching $136.29. 3,220,801 shares of the company were exchanged, compared to its average volume of 2,221,383. The company has a market capitalization of $31.59 billion, a price-to-earnings ratio of 50.06, a P/E/G ratio of 1.81 and a beta of 1.47. The firm's 50-day simple moving average is $133.22 and its 200-day simple moving average is $135.23. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. 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 issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment 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 sale, the executive vice president now directly owns 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were 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 in the company, valued at $6,470,120.80. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,374 shares of company stock worth $5,815,812. 3.01% of the stock is currently owned by company insiders.

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.