Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,651 shares of the company’s stock after selling 1,371 shares during the period. PNC Financial Services Group Inc.’s holdings in Live Nation Entertainment were worth $2,545,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LYV. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 350,497 shares of the company’s stock worth $38,376,000 after acquiring an additional 6,512 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Live Nation Entertainment by 7.4% during the 3rd quarter. Metis Global Partners LLC now owns 5,073 shares of the company’s stock worth $555,000 after acquiring an additional 350 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Live Nation Entertainment by 14.9% during the 3rd quarter. CIBC Asset Management Inc now owns 24,916 shares of the company’s stock worth $2,728,000 after acquiring an additional 3,231 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of Live Nation Entertainment by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after acquiring an additional 105 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Rosenblatt Securities restated a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, Morgan Stanley raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Stock Up 3.0 %

LYV stock opened at $119.25 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. 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 has a market capitalization of $27.83 billion, a P/E ratio of 43.84, a PEG ratio of 1.81 and a beta of 1.38. The firm has a 50 day simple moving average of $139.52 and a 200-day simple moving average of $126.41.

Live Nation Entertainment (NYSE:LYV) last released 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. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment 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 of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment 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.