Price T Rowe Associates Inc. MD Increases Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Price T Rowe Associates Inc. MD lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 865,871 shares of the company's stock after acquiring an additional 268,857 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.37% of Live Nation Entertainment worth $112,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $40,000. Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $42,000. Retirement Wealth Solutions LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth $44,000. Independence Bank of Kentucky acquired a new position in Live Nation Entertainment in the 4th quarter worth about $45,000. Finally, Morse Asset Management Inc bought a new position in Live Nation Entertainment in the third quarter valued at about $42,000. 74.52% of the stock is owned by institutional investors.

Insider Transactions at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last three months. Corporate insiders own 2.72% of the company's stock.

Analysts Set New Price Targets

LYV has been the subject of a number of research reports. Bank of America raised their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Susquehanna initiated coverage on shares of Live Nation Entertainment in a report on Monday. They set a "positive" rating and a $155.00 price target on the stock. Macquarie increased their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Morgan Stanley increased their price target 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. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $159.13.

Live Nation Entertainment Stock Up 2.1 %

Live Nation Entertainment stock traded up $2.77 during mid-day trading on Friday, reaching $134.11. The stock had a trading volume of 2,830,327 shares, compared to its average volume of 2,250,501. 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, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The stock's 50-day simple moving average is $128.60 and its 200-day simple moving average is $132.12. The firm has a market capitalization of $31.30 billion, a PE ratio of 49.31, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the business posted $0.60 EPS. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.