Twin Capital Management Inc. Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Twin Capital Management Inc. cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,633 shares of the company’s stock after selling 237 shares during the quarter. Twin Capital Management Inc.’s holdings in Live Nation Entertainment were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock valued at $1,823,315,000 after acquiring an additional 317,335 shares during the period. Select Equity Group L.P. increased its holdings in shares of Live Nation Entertainment by 8.1% in the 1st quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock valued at $805,849,000 after acquiring an additional 862,050 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Live Nation Entertainment by 5.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after acquiring an additional 429,650 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after acquiring an additional 33,215 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Live Nation Entertainment by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock worth $460,733,000 after buying an additional 323,756 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on LYV. Rosenblatt Securities decreased their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Roth Mkm raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Friday, January 12th. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Live Nation Entertainment Stock Performance

LYV opened at $89.98 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $64.96 and a 12-month high of $107.24. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. The firm has a market capitalization of $20.77 billion, a PE ratio of 67.65 and a beta of 1.30. The firm has a 50 day moving average of $99.01 and a two-hundred day moving average of $91.39.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

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.