UBS Asset Management Americas Inc. boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 22.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,583 shares of the company’s stock after purchasing an additional 20,489 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.05% of Live Nation Entertainment worth $3,924,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Live Nation Entertainment by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock valued at $316,303,000 after acquiring an additional 517,577 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Live Nation Entertainment by 2.4% in the 2nd quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock worth $181,234,000 after purchasing an additional 120,428 shares in the last quarter. State Street Corp boosted its position in shares of Live Nation Entertainment by 2.9% in the 1st quarter. State Street Corp now owns 3,401,554 shares of the company’s stock worth $103,306,000 after purchasing an additional 95,550 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $109,693,000. Finally, Victory Capital Management Inc. boosted its position in shares of Live Nation Entertainment by 80.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,516,512 shares of the company’s stock worth $52,851,000 after purchasing an additional 678,283 shares in the last quarter. Institutional investors own 65.64% of the company’s stock.
In other Live Nation Entertainment news, insider Brian Capo sold 7,500 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the insider now owns 13,354 shares in the company, valued at $540,837. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ariel Emanuel sold 10,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the completion of the transaction, the director now owns 85,737 shares of the company’s stock, valued at approximately $3,563,229.72. The disclosure for this sale can be found here. Corporate insiders own 4.77% of the company’s stock.
LYV has been the subject of a number of recent analyst reports. Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Monday, June 19th. They noted that the move was a valuation call. BidaskClub cut Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC raised their price objective on Live Nation Entertainment from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. William Blair initiated coverage on Live Nation Entertainment in a research report on Friday, July 21st. They issued an “outperform” rating for the company. Finally, Stephens reissued an “overweight” rating and issued a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.86.
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Shares of Live Nation Entertainment, Inc. (NYSE LYV) opened at 42.78 on Wednesday. The stock has a 50 day moving average price of $41.54 and a 200-day moving average price of $36.29. Live Nation Entertainment, Inc. has a 52-week low of $26.41 and a 52-week high of $43.86. The firm has a market cap of $8.77 billion, a PE ratio of 6111.43 and a beta of 1.03.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 29.3% on a year-over-year basis. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post $0.22 EPS for the current fiscal year.
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.
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