Select Equity Group L.P. Has $1.09 Billion Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Select Equity Group L.P. lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 32.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,442,456 shares of the company's stock after selling 4,131,263 shares during the period. Live Nation Entertainment comprises 4.3% of Select Equity Group L.P.'s holdings, making the stock its largest holding. Select Equity Group L.P. owned about 3.63% of Live Nation Entertainment worth $1,093,298,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Measured Risk Portfolios Inc. bought a new stake in Live Nation Entertainment in the fourth quarter worth about $29,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $40,000. Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $42,000. Retirement Wealth Solutions LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $44,000. Finally, Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment in the 4th quarter worth $45,000. Institutional investors own 74.52% of the company's stock.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president now owns 189,456 shares in the company, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the business'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 owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,510 shares of company stock worth $15,627,146. 3.01% of the stock is currently owned by company insiders.

Live Nation Entertainment Trading Down 1.3%

Shares of Live Nation Entertainment stock traded down $1.97 on Tuesday, reaching $146.33. The company had a trading volume of 1,763,504 shares, compared to its average volume of 2,242,400. The firm has a market cap of $33.92 billion, a price-to-earnings ratio of 53.80, a P/E/G ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50-day moving average price is $129.91 and its two-hundred day moving average price is $134.33. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced 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 analysts' expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Live Nation Entertainment's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LYV shares. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Susquehanna started 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 for the company. The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Macquarie increased their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, Roth Mkm lowered their target price 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. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average 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.