Schonfeld Strategic Advisors LLC Acquires 106,386 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Schonfeld Strategic Advisors LLC boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1,100.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,050 shares of the company’s stock after acquiring an additional 106,386 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Live Nation Entertainment were worth $15,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its position in Live Nation Entertainment by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock valued at $1,120,177,000 after acquiring an additional 44,703 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after buying an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after buying an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after buying an additional 108,293 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock worth $385,575,000 after buying an additional 15,891 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $132.25 on Wednesday. The firm has a market cap of $30.87 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.81 and a beta of 1.31. The company has a 50 day moving average of $129.41 and a 200-day moving average of $132.01. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LYV. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Bank of America boosted their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Macquarie boosted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Finally, Susquehanna started coverage on shares of Live Nation Entertainment in a research report on Monday. They set a “positive” rating and a $155.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.00.

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.