Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 59,055 shares of the company’s stock after selling 978 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Live Nation Entertainment were worth $6,466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Live Nation Entertainment by 442.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company’s stock valued at $1,331,000 after purchasing an additional 10,262 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Live Nation Entertainment by 27.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company’s stock valued at $495,000 after buying an additional 1,002 shares during the last quarter. Empowered Funds LLC purchased a new position in Live Nation Entertainment during the first quarter worth $281,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $212,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter valued at $138,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on LYV shares. Bank of America started coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Macquarie lifted their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Oppenheimer raised their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $124.73.

Live Nation Entertainment Trading Up 0.7 %

NYSE LYV opened at $123.85 on Tuesday. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $127.64. The company’s 50 day moving average price is $110.04 and its 200 day moving average price is $99.68. The firm has a market capitalization of $28.53 billion, a price-to-earnings ratio of 116.84, a PEG ratio of 3.03 and a beta of 1.33.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock valued at $17,238,181. Company insiders own 2.72% of the company’s stock.

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.