Live Nation Entertainment, Inc. (LYV) Shares Bought by CIBC Private Wealth Group LLC

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CIBC Private Wealth Group LLC boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 21.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,289,808 shares of the company’s stock after buying an additional 228,554 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Live Nation Entertainment were worth $63,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LYV. Findlay Park Partners LLP bought a new position in Live Nation Entertainment in the 3rd quarter worth about $176,436,000. Select Equity Group L.P. increased its stake 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 worth $366,071,000 after acquiring an additional 2,258,400 shares during the last quarter. BlackRock Inc. increased its stake in Live Nation Entertainment by 6.0% in the 3rd quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock worth $748,517,000 after acquiring an additional 778,092 shares during the last quarter. Korea Investment CORP increased its stake in Live Nation Entertainment by 902.5% in the 3rd quarter. Korea Investment CORP now owns 598,500 shares of the company’s stock worth $32,600,000 after acquiring an additional 538,800 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Live Nation Entertainment in the 3rd quarter worth about $18,970,000. Institutional investors and hedge funds own 70.46% of the company’s stock.

Shares of Live Nation Entertainment stock opened at $54.02 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $11.36 billion, a PE ratio of -112.54 and a beta of 1.14. Live Nation Entertainment, Inc. has a 12 month low of $35.94 and a 12 month high of $58.26.

LYV has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, Macquarie reiterated a “buy” rating and set a $60.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, November 22nd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.61.

In other news, CEO Michael Rapino sold 85,000 shares of the stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $49.40, for a total transaction of $4,199,000.00. Following the transaction, the chief executive officer now directly owns 1,052,030 shares in the company, valued at approximately $51,970,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 255,000 shares of company stock worth $12,736,400 over the last quarter. Corporate insiders own 5.19% of the company’s stock.

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Live Nation Entertainment 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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