California State Teachers Retirement System Increases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

California State Teachers Retirement System grew its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 267,419 shares of the company’s stock after buying an additional 3,977 shares during the quarter. California State Teachers Retirement System’s holdings in Live Nation Entertainment were worth $22,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. boosted its stake in shares of Live Nation Entertainment by 1.2% in the 4th quarter. Select Equity Group L.P. now owns 5,156,033 shares of the company’s stock valued at $378,865,000 after buying an additional 60,079 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Live Nation Entertainment by 234.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,738,990 shares of the company’s stock valued at $274,741,000 after buying an additional 2,619,554 shares during the period. Geode Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 2,360,343 shares of the company’s stock valued at $199,230,000 after buying an additional 76,155 shares during the period. Fred Alger Management LLC boosted its stake in shares of Live Nation Entertainment by 8.5% in the 1st quarter. Fred Alger Management LLC now owns 1,339,275 shares of the company’s stock valued at $113,370,000 after buying an additional 105,298 shares during the period. Finally, Norges Bank purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $94,979,000. Institutional investors and hedge funds own 71.54% of the company’s stock.

Several brokerages have recently weighed in on LYV. The Goldman Sachs Group began coverage on Live Nation Entertainment in a research report on Thursday, July 15th. They set a “buy” rating and a $110.00 target price on the stock. Morgan Stanley raised their target price on Live Nation Entertainment from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 5th. Zacks Investment Research raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday. Wolfe Research began coverage on Live Nation Entertainment in a research report on Wednesday, May 19th. They set an “outperform” rating and a $97.00 target price on the stock. Finally, Jefferies Financial Group raised Live Nation Entertainment from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $96.00 in a research report on Monday, May 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Live Nation Entertainment currently has an average rating of “Hold” and a consensus target price of $80.13.

LYV opened at $80.00 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $44.95 and a 52 week high of $94.63. The stock’s 50 day moving average price is $86.71.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 6th. The company reported ($1.44) EPS for the quarter, topping the consensus estimate of ($1.66) by $0.22. The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $287.45 million. Live Nation Entertainment had a negative return on equity of 1,833.44% and a negative net margin of 234.83%. The firm’s revenue was down 78.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.94) earnings per share. Equities analysts expect that Live Nation Entertainment, Inc. will post -3.83 EPS for the current year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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