California State Teachers Retirement System Has $8.12 Billion Stake in Live Nation Entertainment, Inc. $LYV

California State Teachers Retirement System raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 19,122.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,334,776 shares of the company’s stock after purchasing an additional 44,104,140 shares during the quarter. California State Teachers Retirement System owned 18.82% of Live Nation Entertainment worth $8,118,141,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after purchasing an additional 759,363 shares during the period. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after buying an additional 20,165 shares during the period. Daiichi Life Insurance Co. Ltd. acquired a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $626,000. CenterBook Partners LP lifted its position in Live Nation Entertainment by 780.1% in the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after buying an additional 19,627 shares in the last quarter. Finally, Troluce Capital Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $50,328,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LYV shares. Susquehanna upped their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. BTIG Research reissued a “buy” rating and set a $215.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Benchmark lifted their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.89% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $170.43 on Wednesday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The business has a 50-day moving average of $181.25 and a two-hundred day moving average of $168.93. The stock has a market capitalization of $40.16 billion, a P/E ratio of -150.82 and a beta of 1.11. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.1 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.