Boston Partners Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Boston Partners trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 84.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,076 shares of the company’s stock after selling 72,036 shares during the quarter. Boston Partners’ holdings in Live Nation Entertainment were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after acquiring an additional 87,032 shares during the period. Natixis Advisors LLC lifted its position in Live Nation Entertainment by 12.0% during the third quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after purchasing an additional 7,136 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Live Nation Entertainment by 7.3% in the third quarter. Mutual of America Capital Management LLC now owns 19,281 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,320 shares during the last quarter. Caprock Group LLC grew its position in Live Nation Entertainment by 5.7% during the 3rd quarter. Caprock Group LLC now owns 4,693 shares of the company’s stock worth $514,000 after purchasing an additional 253 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $441,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were 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 owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $122.93 on Friday. 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 stock’s 50 day simple moving average is $138.74 and its 200-day simple moving average is $127.26. The company has a market cap of $28.69 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. 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) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of recent research reports. Bank of America upped their target price 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. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Roth Mkm increased their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

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.