Aperio Group LLC Purchases 21,460 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Aperio Group LLC boosted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 95.0% during the second quarter, Holdings Channel reports. The fund owned 44,049 shares of the company’s stock after buying an additional 21,460 shares during the period. Aperio Group LLC’s holdings in Live Nation Entertainment were worth $1,535,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Capstone Asset Management Co. boosted its position in shares of Live Nation Entertainment by 2.0% in the second quarter. Capstone Asset Management Co. now owns 12,828 shares of the company’s stock worth $447,000 after buying an additional 250 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Live Nation Entertainment by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 14,699 shares of the company’s stock worth $446,000 after buying an additional 346 shares during the last quarter. State Treasurer State of Michigan boosted its position in shares of Live Nation Entertainment by 0.8% in the first quarter. State Treasurer State of Michigan now owns 53,700 shares of the company’s stock worth $1,631,000 after buying an additional 400 shares during the last quarter. Advantus Capital Management Inc boosted its position in shares of Live Nation Entertainment by 3.0% in the first quarter. Advantus Capital Management Inc now owns 16,931 shares of the company’s stock worth $514,000 after buying an additional 497 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Live Nation Entertainment by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,241 shares of the company’s stock worth $1,404,000 after buying an additional 600 shares during the last quarter. 64.45% of the stock is owned by institutional investors and hedge funds.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) traded down 1.31% during midday trading on Friday, hitting $39.09. The stock had a trading volume of 2,712,521 shares. Live Nation Entertainment, Inc. has a 1-year low of $25.56 and a 1-year high of $42.20. The firm’s 50-day moving average price is $36.02 and its 200-day moving average price is $32.48. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 9772.50 and a beta of 1.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.61%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment, Inc. will post $0.19 earnings per share for the current year.

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A number of equities analysts have issued reports on the company. ValuEngine raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Guggenheim assumed coverage on Live Nation Entertainment in a report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday. Zacks Investment Research cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Friday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.75.

In related news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total value of $697,200.00. Following the completion of the transaction, the chief financial officer now owns 286,216 shares of the company’s stock, valued at approximately $9,977,489.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Ted Enloe III sold 6,337 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.82, for a total transaction of $226,991.34. Following the completion of the transaction, the director now directly owns 23,450 shares of the company’s stock, valued at approximately $839,979. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by company insiders.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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

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