Rockefeller Capital Management L.P. Boosts Stock Holdings in Live Nation Entertainment, Inc. $LYV

Rockefeller Capital Management L.P. raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,894 shares of the company’s stock after purchasing an additional 2,893 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Live Nation Entertainment were worth $2,122,000 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 LYV. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after acquiring an additional 1,001,905 shares during the last quarter. Independent Franchise Partners LLP increased its stake in Live Nation Entertainment by 3.5% during the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after acquiring an additional 193,104 shares during the last quarter. Capital World Investors raised its holdings in shares of Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after purchasing an additional 237,342 shares during the period. Geode Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its holdings in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 1.5%

NYSE LYV opened at $182.21 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $183.51. The business has a 50 day moving average price of $165.46 and a two-hundred day moving average price of $155.99. The stock has a market cap of $42.92 billion, a PE ratio of -102.94 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Wolfe Research boosted their price objective on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Citizens Jmp began coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price target for the company. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.