Russell Investments Group Ltd. Has $46.79 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Russell Investments Group Ltd. increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 26.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 361,259 shares of the company’s stock after acquiring an additional 76,404 shares during the period. Russell Investments Group Ltd.’s holdings in Live Nation Entertainment were worth $46,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after purchasing an additional 105,648 shares during the last quarter. Geode Capital Management LLC boosted its stake in Live Nation Entertainment by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock valued at $500,107,000 after acquiring an additional 108,293 shares during the last quarter. Cantillon Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock worth $385,575,000 after acquiring an additional 15,891 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Live Nation Entertainment by 19.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after acquiring an additional 445,704 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $259,000,000. 74.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the company’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 sale, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, 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. Over the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LYV. Rosenblatt Securities reiterated a “buy” rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Benchmark reiterated a “buy” rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley increased 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. Finally, Bank of America boosted their price target 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. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.33.

Live Nation Entertainment Stock Down 4.0 %

Shares of LYV stock opened at $121.00 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s fifty day moving average price is $137.16 and its two-hundred day moving average price is $129.83. The firm has a market capitalization of $28.24 billion, a P/E ratio of 44.48, a PEG ratio of 1.81 and a beta of 1.31. 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 issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. On average, equities analysts predict 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.