Louisiana State Employees Retirement System raised its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. PICTET BANK & TRUST Ltd purchased a new position in Live Nation Entertainment during the first quarter valued at $225,000. Oppenheimer Asset Management Inc. purchased a new position in Live Nation Entertainment during the first quarter valued at $233,000. KBC Group NV purchased a new position in Live Nation Entertainment during the first quarter valued at $238,000. World Asset Management Inc increased its position in Live Nation Entertainment by 9.7% in the first quarter. World Asset Management Inc now owns 8,844 shares of the company’s stock valued at $269,000 after buying an additional 783 shares during the period. Finally, Highbridge Capital Management LLC increased its position in Live Nation Entertainment by 198.9% in the fourth quarter. Highbridge Capital Management LLC now owns 10,582 shares of the company’s stock valued at $282,000 after buying an additional 21,282 shares during the period. Institutional investors own 65.62% of the company’s stock.
Shares of Live Nation Entertainment, Inc. (LYV) traded down 1.69% during trading on Friday, reaching $38.38. The company had a trading volume of 3,157,964 shares. Live Nation Entertainment, Inc. has a 12 month low of $25.56 and a 12 month high of $42.20. The firm has a market capitalization of $7.87 billion, a P/E ratio of 5482.86 and a beta of 1.00. The firm’s 50 day moving average price is $36.77 and its 200 day moving average price is $32.95.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. Equities analysts predict that Live Nation Entertainment, Inc. will post $0.22 EPS for the current year.
Several research firms have recently weighed in on LYV. Stephens restated an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research report on Friday, August 11th. Zacks Investment Research downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. Jefferies Group LLC reiterated a “buy” rating and set a $33.00 price objective on shares of Live Nation Entertainment in a research report on Monday, April 24th. Finally, Guggenheim assumed coverage on Live Nation Entertainment in a research report on Wednesday, May 24th. They set a “buy” rating and a $40.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $39.43.
In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 6,337 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the transaction, the director now owns 23,450 shares of the company’s stock, valued at approximately $839,979. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was 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 directly owns 286,216 shares in the company, valued at $9,977,489.76. The disclosure for this sale can be found here. Corporate insiders own 4.77% of the company’s stock.
Live Nation Entertainment Company Profile
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.
What are top analysts saying about Live Nation Entertainment Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Live Nation Entertainment Inc. and related companies.