Korea Investment CORP Has $17.51 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Korea Investment CORP boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,206 shares of the company’s stock after acquiring an additional 23,456 shares during the quarter. Korea Investment CORP owned 0.06% of Live Nation Entertainment worth $17,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYV. ValueAct Holdings L.P. bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $111,094,000. PointState Capital LP bought a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares in the last quarter. Geode Capital Management LLC increased its holdings in Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in Live Nation Entertainment by 18.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock valued at $234,388,000 after purchasing an additional 284,623 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 195,346 shares in the company, 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 ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $125.05 on Friday. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 45.97, a P/E/G ratio of 1.81 and a beta of 1.38. The firm’s 50 day simple moving average is $138.14 and its 200 day simple moving average is $128.62. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current 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.