Korea Investment CORP Has $17.51 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Korea Investment CORP raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 21.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 135,206 shares of the company’s stock after acquiring an additional 23,456 shares during the quarter. Korea Investment CORP’s holdings in Live Nation Entertainment were worth $17,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $31,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $40,000. Golden State Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $44,000. Finally, Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at $45,000. 74.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,136 shares of the company’s 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 completion of the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 over the last quarter. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Stock Down 2.4 %

NYSE LYV opened at $125.05 on Friday. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50 day moving average of $138.14 and a 200-day moving average of $128.62.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on LYV shares. The Goldman Sachs Group increased their price target 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. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Bank of America upped their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, Macquarie increased their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.27.

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.