Public Sector Pension Investment Board Purchases 3,200 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Public Sector Pension Investment Board boosted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 488,866 shares of the company’s stock after purchasing an additional 3,200 shares during the period. Public Sector Pension Investment Board’s holdings in Live Nation Entertainment were worth $53,526,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MetLife Investment Management LLC raised its stake in Live Nation Entertainment by 5.1% in the third quarter. MetLife Investment Management LLC now owns 47,931 shares of the company’s stock valued at $5,248,000 after buying an additional 2,342 shares during the period. Townsquare Capital LLC raised its stake in Live Nation Entertainment by 24.9% in the 3rd quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock valued at $477,000 after acquiring an additional 870 shares during the period. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at $31,000. Quantbot Technologies LP boosted its position in Live Nation Entertainment by 86.1% during the third quarter. Quantbot Technologies LP now owns 13,577 shares of the company’s stock worth $1,487,000 after purchasing an additional 6,282 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Live Nation Entertainment by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 96,824 shares of the company’s stock valued at $10,601,000 after purchasing an additional 7,143 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The trade was a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,799 shares of company stock worth $16,449,718 over the last 90 days. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $139.73 on Thursday. The company has a 50 day moving average of $118.24 and a 200-day moving average of $102.87. The company has a market cap of $32.47 billion, a PE ratio of 148.65, a price-to-earnings-growth ratio of 3.81 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the business posted $1.78 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LYV. Benchmark lifted their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Evercore ISI upped their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.53.

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.