Maryland State Retirement & Pension System Has $1.13 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Maryland State Retirement & Pension System reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,740 shares of the company’s stock after selling 269 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Live Nation Entertainment were worth $1,132,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at $31,000. World Investment Advisors LLC acquired a new position in shares of Live Nation Entertainment in the third quarter worth $38,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the third quarter worth $42,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth $42,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth $44,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade 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 accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the 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 completion of the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,702 shares of company stock worth $10,497,143. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Up 0.6 %

LYV stock 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 company has a 50-day moving average of $138.74 and a two-hundred day moving average of $127.49. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The stock has a market capitalization of $28.69 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYV. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Roth Mkm upped their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Company 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.