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

California State Teachers Retirement System boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 19,122.8% in 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 about 0.19% of Live Nation Entertainment worth $8,118,141,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after buying an additional 367,624 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Live Nation Entertainment in the second quarter worth $1,221,398,000. Independent Franchise Partners LLP increased its position in Live Nation Entertainment by 3.5% during the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after acquiring an additional 193,104 shares during the period. Canada Pension Plan Investment Board bought a new position in Live Nation Entertainment during the second quarter worth $859,018,000. Finally, Geode Capital Management LLC raised its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Down 1.8%

Shares of Live Nation Entertainment stock opened at $170.43 on Wednesday. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The firm has a market capitalization of $40.16 billion, a PE 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. The company’s fifty day moving average price is $181.25 and its two-hundred day moving average price is $168.93.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that Live Nation Entertainment, Inc. will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LYV shares. Sanford C. Bernstein raised their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Weiss Ratings downgraded Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 1st. Benchmark boosted their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment 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.