CIBC Private Wealth Group LLC Sells 5,256 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

CIBC Private Wealth Group LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,971 shares of the company’s stock after selling 5,256 shares during the period. CIBC Private Wealth Group LLC owned 0.07% of Live Nation Entertainment worth $21,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 1.5% in the fourth 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 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 during the period. Cantillon Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after buying an additional 15,891 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Live Nation Entertainment by 19.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock worth $353,946,000 after buying an additional 445,704 shares during the period. Finally, Norges Bank acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $255,955,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYV has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Macquarie increased their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Roth Mkm raised their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 of the company’s stock, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,702 shares of company stock worth $10,497,143. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Up 4.5 %

Shares of LYV stock opened at $130.71 on Tuesday. The company has a market capitalization of $30.51 billion, a P/E ratio of 48.06, a P/E/G ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50-day moving average price of $138.04 and a 200 day moving average price of $129.07.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping 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 business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.