Massachusetts Financial Services Co. MA Grows Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Massachusetts Financial Services Co. MA grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 34.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,919,630 shares of the company’s stock after purchasing an additional 496,202 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Live Nation Entertainment were worth $248,592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LYV. World Investment Advisors LLC purchased a new position in Live Nation Entertainment during the 3rd quarter worth $38,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment during the 4th quarter worth $40,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the third quarter valued at $42,000. Golden State Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $44,000. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LYV has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Benchmark reaffirmed a “buy” rating and set a $178.00 target price on shares of Live Nation Entertainment in a research report on Tuesday. Bank of America boosted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Stock Down 6.6 %

Live Nation Entertainment stock opened at $125.80 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a market cap of $29.36 billion, a PE ratio of 46.25, a PEG ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $137.55 and its two-hundred day simple moving average is $129.32.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. 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 that occurred on 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 directly owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. 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 90 days. 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.