Live Nation Entertainment, Inc. (NYSE:LYV) Stake Lessened by Voya Investment Management LLC

Voya Investment Management LLC decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 99.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,903 shares of the company’s stock after selling 213,849,496 shares during the period. Voya Investment Management LLC owned 0.08% of Live Nation Entertainment worth $23,038,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Amundi raised its stake in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after buying an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC raised its position in Live Nation Entertainment by 595.3% in the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after acquiring an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $226,000. Aviva PLC boosted its position in shares of Live Nation Entertainment by 1,524.1% during the 4th quarter. Aviva PLC now owns 97,057 shares of the company’s stock valued at $12,569,000 after purchasing an additional 91,081 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after purchasing an additional 48,949 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the firm’s 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 directly owns 52,624 shares in the company, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 in the last three months. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Trading Up 0.2 %

Shares of NYSE:LYV opened at $132.95 on Friday. The firm has a fifty day moving average of $130.21 and a two-hundred day moving average of $131.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The firm has a market capitalization of $31.03 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of research reports. Roth Mkm raised their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Morgan Stanley upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Rosenblatt Securities reissued a “buy” rating and issued a $174.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $160.33.

Live Nation Entertainment Company Profile

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.