Goldman Sachs Group Inc. has decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.6% during the 4th quarter, according to a recent 13F filing with the SEC. The fund now owns 1,185,405 shares of the company's stock after selling 140,230 shares. Other hedge funds and institutional investors have also made changes to their positions in the company. Live Nation Entertainment's stock is currently trading at $88.75, with a 50-day simple moving average of $94.22 and a 200-day simple moving average of $93.90. The company reported a net margin of 2.22% and a return on equity of 90.67% in its most recent quarterly earnings report. Analysts have given Live Nation Entertainment a consensus rating of 'Moderate Buy' with a target price of $115.58.
Warren Buffett's investment firm, Berkshire Hathaway, has acquired 7,599,572 shares of Liberty SiriusXM Group, increasing its stake in the company significantly. The purchase price was $29.1 per share, bringing Berkshire Hathaway's total holdings to 65,486,288 shares, representing a 20.05% ownership stake. Liberty SiriusXM Group operates a subscription-based satellite radio service and has a market capitalization of $9.69 billion. Buffett's investment reflects his confidence in the company's long-term growth potential and has had a positive impact on the stock's market performance.
Alberta Investment Management Corp, an institutional investor based in Alberta, Canada, has made a new investment of $22.18 million in Liberty Live Group (NASDAQ:LLYVA). The investment firm purchased 694,951 shares of the company's stock, representing a 2.71% ownership stake. Other large investors have also recently adjusted their positions in LLYVA. The stock of Liberty Live Group traded at $38.99 on Friday, with a fifty-day moving average of $35.97 and a 200-day moving average of $33.90.
Kent Lake Capital LLC acquired 650,000 shares of iHeartMedia, Inc. (NASDAQ:IHRT) valued at approximately $1.74 million. Other institutional investors and hedge funds have also made changes to their positions in the company. iHeartMedia, Inc. operates as an audio media company in the United States and internationally. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.04. The company had revenue of $1.07 billion during the quarter. Guggenheim lowered their price target on iHeartMedia from $6.00 to $5.00 and set a 'buy' rating for the company in a report on Monday, March 4th.
Warren Buffett's investment in Liberty SiriusXM Group, Alberta Investment Management Corp's investment in Liberty Live Group, and Goldman Sachs' reduction in stake in Live Nation Entertainment reflect the changing positions of institutional investors in these companies. These investments have the potential to impact the market performance of these companies and may influence other institutional investors and hedge funds to adjust their positions as well.