California Public Employees Retirement System Has $34.24 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

California Public Employees Retirement System decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,543 shares of the company’s stock after selling 6,806 shares during the period. California Public Employees Retirement System’s holdings in Live Nation Entertainment were worth $34,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Axxcess Wealth Management LLC grew its stake in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after acquiring an additional 75 shares in the last quarter. Vident Advisory LLC raised its stake in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. raised its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after purchasing an additional 82 shares during the period. Finally, Root Financial Partners LLC grew its position in shares of Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LYV. Citizens Jmp initiated coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target for the company. Guggenheim increased their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Zacks Research lowered Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Wells Fargo & Company lifted their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Morgan Stanley upped their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Nineteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.75.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Rowles sold 63,776 shares of the business’s 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 transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $177.77 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market cap of $41.87 billion, a PE ratio of -100.43 and a beta of 1.11. The company has a 50 day moving average of $173.01 and a 200-day moving average of $160.49. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $188.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.