Cibc World Markets Corp Grows Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Cibc World Markets Corp grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 127,166 shares of the company’s stock after acquiring an additional 2,882 shares during the quarter. Cibc World Markets Corp’s holdings in Live Nation Entertainment were worth $16,468,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. acquired a new position in Live Nation Entertainment during the third quarter worth about $111,094,000. PointState Capital LP acquired a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after buying an additional 387,008 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Live Nation Entertainment by 37.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after acquiring an additional 385,143 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 worth $410,664,000 after buying an additional 321,832 shares during the period. 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 several recent research reports. JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Roth Mkm boosted 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 report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock worth $10,497,143 over the last quarter. 2.72% of the stock is currently owned by insiders.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $121.89 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s 50-day moving average price is $139.38 and its 200 day moving average price is $127.00. 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 cap of $28.45 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, 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.