Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,487 shares of the company’s stock after selling 280 shares during the period. UniSuper Management Pty Ltd’s holdings in Live Nation Entertainment were worth $2,394,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LYV. Brooklyn Investment Group bought a new stake in Live Nation Entertainment in the third quarter worth about $31,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $40,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $42,000. Retirement Wealth Solutions LLC bought a new stake in Live Nation Entertainment during the fourth quarter worth approximately $44,000. Finally, Independence Bank of Kentucky acquired a new position in Live Nation Entertainment in the fourth quarter worth approximately $45,000. Institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Capo sold 5,066 shares of the firm’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 value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. 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 corporate insiders.

Live Nation Entertainment Trading Down 2.4 %

NYSE LYV opened at $125.05 on Friday. 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 1-year low of $86.81 and a 1-year high of $157.75. The firm’s fifty day simple moving average is $138.14 and its 200-day simple moving average is $128.62. The company has a market capitalization of $29.19 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYV. Rosenblatt Securities reissued a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Morgan Stanley increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Bank of America lifted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Guggenheim raised their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Macquarie boosted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

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.