Louisiana State Employees Retirement System boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,800 shares of the company’s stock after buying an additional 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Live Nation Entertainment were worth $1,213,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in LYV. LS Investment Advisors LLC increased its stake in Live Nation Entertainment by 21.9% in the second quarter. LS Investment Advisors LLC now owns 10,879 shares of the company’s stock worth $379,000 after buying an additional 1,952 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Live Nation Entertainment by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 48,312 shares of the company’s stock worth $1,684,000 after buying an additional 2,071 shares during the last quarter. Capstone Asset Management Co. increased its stake in 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. Fox Run Management L.L.C. bought a new stake in Live Nation Entertainment during the second quarter worth $512,000. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in Live Nation Entertainment by 28.2% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 55,967 shares of the company’s stock worth $1,950,000 after buying an additional 12,320 shares during the last quarter. 64.45% of the stock is currently owned by institutional investors.
Shares of Live Nation Entertainment, Inc. (LYV) opened at 38.34 on Friday. The firm’s 50 day moving average is $36.13 and its 200 day moving average is $32.55. The company has a market cap of $7.86 billion, a PE ratio of 5477.14 and a beta of 1.00. Live Nation Entertainment, Inc. has a 12 month low of $25.56 and a 12 month high of $42.20.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.37 billion. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. Live Nation Entertainment’s revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. On average, equities analysts predict that Live Nation Entertainment, Inc. will post $0.19 earnings per share for the current year.
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Several brokerages have recently commented on LYV. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a report on Friday. Zacks Investment Research downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday. Stephens reissued an “overweight” rating and issued a $44.00 target price (up from $36.00) on shares of Live Nation Entertainment in a report on Thursday. William Blair began coverage on Live Nation Entertainment in a report on Friday, July 21st. They issued an “outperform” rating on the stock. Finally, BidaskClub raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Four 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’s stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average target price of $38.75.
In related news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total value of $697,200.00. Following the transaction, the chief financial officer now owns 286,216 shares in the company, valued at $9,977,489.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Ted Enloe III sold 6,337 shares of the business’s stock in a transaction on 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 owns 23,450 shares in the company, valued at approximately $839,979. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by 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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