Principal Securities Inc. Takes $428,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Principal Securities Inc. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYVFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,568 shares of the company’s stock, valued at approximately $428,000.

A number of other large investors have also added to or reduced their stakes in LYV. Cantillon Capital Management LLC increased its stake in shares of Live Nation Entertainment by 146.6% during the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after purchasing an additional 1,632,749 shares during the period. Findlay Park Partners LLP lifted its holdings in shares of Live Nation Entertainment by 55.1% during the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after buying an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of Live Nation Entertainment by 52.8% in the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after acquiring an additional 726,000 shares during the period. Nordea Investment Management AB grew its stake in shares of Live Nation Entertainment by 104.2% in the fourth quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after acquiring an additional 606,743 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Live Nation Entertainment by 78.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock worth $105,961,000 after acquiring an additional 561,384 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

LYV stock opened at $95.83 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The company’s fifty day simple moving average is $98.64 and its 200 day simple moving average is $92.65. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. The firm has a market cap of $22.18 billion, a price-to-earnings ratio of 91.27, a PEG ratio of 1.93 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYVGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.25) EPS. On average, analysts expect that Live Nation Entertainment, Inc. will post 1.39 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Oppenheimer increased their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. TD Cowen reaffirmed a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Rosenblatt Securities raised their price objective on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $116.83.

Check Out Our Latest Research Report on Live Nation Entertainment

Live Nation Entertainment Profile

(Free Report)

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.

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

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