Trust Investment Advisors Invests $245,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Trust Investment Advisors acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,894 shares of the company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after purchasing an additional 105,648 shares during the period. Geode Capital Management LLC lifted its holdings in Live Nation Entertainment by 9.4% during the third 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. Cantillon Capital Management LLC boosted its position in Live Nation Entertainment by 0.5% during the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after acquiring an additional 15,891 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Live Nation Entertainment by 18.7% in the 4th quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock valued at $234,388,000 after acquiring an additional 284,623 shares during the period. Finally, Amundi lifted its stake in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after purchasing an additional 39,302 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on LYV shares. Bank of America lifted their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Macquarie lifted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Stock Performance

LYV opened at $127.15 on Wednesday. The firm has a 50 day moving average of $138.58 and a two-hundred day moving average of $128.19. The firm has a market capitalization of $29.68 billion, a PE ratio of 46.75, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm’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 owns 10,549 shares in the company, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. 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.

About Live Nation Entertainment

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.