Massachusetts Financial Services Co. MA Raises Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Massachusetts Financial Services Co. MA boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 37.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,423,428 shares of the company’s stock after acquiring an additional 385,143 shares during the period. Massachusetts Financial Services Co. MA owned 0.62% of Live Nation Entertainment worth $155,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Select Equity Group L.P. lifted its holdings in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. raised its stake in Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares during the last quarter. Vulcan Value Partners LLC boosted its holdings in Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after acquiring an additional 855,197 shares in the last quarter. DigitalBridge Group Inc. purchased a new stake in shares of Live Nation Entertainment during the second quarter worth about $20,453,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on LYV. Evercore ISI boosted their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen boosted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Citigroup raised their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Live Nation Entertainment Trading Up 1.2 %

Shares of Live Nation Entertainment stock opened at $140.29 on Friday. The firm has a 50-day simple moving average of $116.74 and a two-hundred day simple moving average of $102.23. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a fifty-two week low of $81.38 and a fifty-two week high of $140.29. The company has a market cap of $32.60 billion, a P/E ratio of 149.24, a price-to-earnings-growth ratio of 3.75 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,799 shares of company stock worth $16,449,718 in the last quarter. Corporate insiders own 2.72% of the company’s stock.

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.