Live Nation Entertainment, Inc. (NYSE:LYV) Holdings Decreased by Commerce Bank

Commerce Bank reduced its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.9% in the 4th quarter, Holdings Channel reports. The fund owned 13,941 shares of the company’s stock after selling 1,524 shares during the period. Commerce Bank’s holdings in Live Nation Entertainment were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $259,000,000. Norges Bank purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $255,955,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 34.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company’s stock worth $248,592,000 after acquiring an additional 496,202 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock valued at $353,946,000 after purchasing an additional 445,704 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on LYV shares. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $174.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Roth Mkm increased 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. Benchmark reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, Bank of America increased their target price 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 investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.33.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 over the last quarter. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $123.67 on Tuesday. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $28.86 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 1.81 and a beta of 1.31. The firm’s 50-day moving average is $131.99 and its 200-day moving average is $131.33.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share 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 company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current 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.