Primecap Management Co. CA Sells 26,450 Shares of Live Nation Entertainment, Inc. $LYV

Primecap Management Co. CA lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 761,880 shares of the company’s stock after selling 26,450 shares during the period. Primecap Management Co. CA’s holdings in Live Nation Entertainment were worth $124,491,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LYV. Clearstead Trust LLC boosted its holdings in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $33,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $37,000. Finally, Root Financial Partners LLC bought a new position in Live Nation Entertainment during the third quarter worth $37,000. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LYV has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley restated an “overweight” rating and set a $185.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Guggenheim lowered their target price on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. Evercore restated an “outperform” rating and set a $198.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Susquehanna lifted their price objective on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.90.

Live Nation Entertainment Trading Up 1.7%

Shares of Live Nation Entertainment stock opened at $157.83 on Friday. The stock has a market capitalization of $37.06 billion, a PE ratio of -657.63, a price-to-earnings-growth ratio of 19.28 and a beta of 1.18. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The stock has a 50 day moving average price of $147.59 and a two-hundred day moving average price of $150.45. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment News Roundup

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Deutsche Bank raised its price target to $180 and reaffirmed a “buy” rating, implying material upside from recent levels; this upgrade likely supports buying momentum. Deutsche Bank adjusts Live Nation Entertainment PT to $180 from $160, maintains buy rating
• Positive Sentiment: Wells Fargo initiated coverage with an “overweight” rating and a $204 price target (significant upside), and that initiation has been reported broadly — a catalyst for institutional interest and likely contributor to today’s upward move. Wells Fargo initiates coverage of Live Nation Entertainment (LYV) with overweight recommendation
• Positive Sentiment: Zacks flagged an upgrade to “strong-buy” (coverage citing recent analyst activity), which may amplify retail/investor attention and short-term buying. Zacks.com
• Neutral Sentiment: Analyst and media coverage is also highlighting a shifting investment thesis — growth plans and consolidation opportunities vs. regulatory questions — producing a mixed narrative that can sustain volatility as investors price risk/reward. How The Live Nation (LYV) Investment Story Is Shifting With Growth Plans And Regulatory Questions
• Negative Sentiment: The DOJ antitrust case moves forward with jury selection imminent; while the judge pared some government claims, the trial creates regulatory overhang and potential liability that could pressure sentiment and valuation. Justice Department Blasts Live Nation’s ‘Desperate Attempt’ To Halt Anti-Monopoly Trial—Days Before It Begins
• Negative Sentiment: Halper Sadeh LLC announced a shareholder inquiry into potential fiduciary breaches by officers and directors, signaling possible litigation or governance scrutiny that could be a drag if it escalates. HALPER SADEH LLC ENCOURAGES LIVE NATION ENTERTAINMENT, INC. SHAREHOLDERS TO CONTACT THE FIRM TO DISCUSS THEIR RIGHTS

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.