Live Nation Entertainment, Inc. (LYV) Position Cut by Diamond Hill Capital Management Inc.


Diamond Hill Capital Management Inc. lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 995,652 shares of the company’s stock after selling 70,370 shares during the period. Diamond Hill Capital Management Inc. owned 0.48% of Live Nation Entertainment worth $49,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYV. Oregon Public Employees Retirement Fund grew its position in Live Nation Entertainment by 6,602.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock valued at $72,000 after buying an additional 3,511,969 shares in the last quarter. Findlay Park Partners LLP bought a new position in Live Nation Entertainment in the 3rd quarter valued at about $176,436,000. Select Equity Group L.P. grew its position in Live Nation Entertainment by 50.6% in the 3rd quarter. Select Equity Group L.P. now owns 6,720,593 shares of the company’s stock valued at $366,071,000 after buying an additional 2,258,400 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Live Nation Entertainment by 15.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 10,823,188 shares of the company’s stock valued at $532,997,000 after buying an additional 1,456,888 shares in the last quarter. Finally, BlackRock Inc. grew its position in Live Nation Entertainment by 6.0% in the 3rd quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock valued at $748,517,000 after buying an additional 778,092 shares in the last quarter. Hedge funds and other institutional investors own 70.79% of the company’s stock.


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In other Live Nation Entertainment news, CEO Michael Rapino sold 85,000 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $49.40, for a total value of $4,199,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,052,030 shares of the company’s stock, valued at approximately $51,970,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 255,000 shares of company stock valued at $12,736,400 over the last three months. 5.19% of the stock is owned by corporate insiders.


Shares of NYSE LYV opened at $56.56 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $35.94 and a twelve month high of $58.26. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of -117.83 and a beta of 1.14.

LYV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Macquarie reiterated a “buy” rating and issued a $60.00 target price on shares of Live Nation Entertainment in a research report on Thursday, November 22nd. Finally, Zacks Investment Research lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $57.91.


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Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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