Blue Grotto Capital LLC Has $23.31 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Blue Grotto Capital LLC decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,000 shares of the company’s stock after selling 20,000 shares during the period. Live Nation Entertainment comprises approximately 4.3% of Blue Grotto Capital LLC’s holdings, making the stock its 12th largest holding. Blue Grotto Capital LLC’s holdings in Live Nation Entertainment were worth $23,310,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment in the third quarter valued at $111,094,000. PointState Capital LP bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Live Nation Entertainment by 55.9% during the 3rd 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 acquiring an additional 387,008 shares in the last quarter. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after acquiring an additional 321,832 shares during the period. Finally, William Blair Investment Management LLC raised its position in Live Nation Entertainment by 18.7% in the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after purchasing an additional 284,623 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In related 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 value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, 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. Over the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LYV shares. Bank of America upped their price objective 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 price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Finally, Guggenheim boosted their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Stock Up 0.1 %

Shares of NYSE:LYV opened at $127.15 on Wednesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $29.68 billion, a price-to-earnings ratio of 46.75, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a 50 day moving average of $138.58 and a 200-day moving average of $128.19. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. On average, sell-side analysts forecast 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.