Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $4.32 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,342 shares of the company’s stock after selling 752 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Live Nation Entertainment were worth $4,318,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Live Nation Entertainment during the third quarter worth $31,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $38,000. Morse Asset Management Inc acquired a new stake in Live Nation Entertainment in the third quarter valued at $42,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $44,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

LYV stock opened at $122.93 on Monday. The stock has a market capitalization of $28.69 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company’s 50-day moving average is $138.74 and its 200-day moving average is $127.71. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Roth Mkm increased their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Morgan Stanley increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Rosenblatt Securities restated a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value 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 trade represents a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate 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.