Live Nation Entertainment, Inc. (LYV) Stake Lessened by Carillon Tower Advisers Inc.

Carillon Tower Advisers Inc. cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,450 shares of the company’s stock after selling 49,225 shares during the period. Carillon Tower Advisers Inc.’s holdings in Live Nation Entertainment were worth $9,284,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LYV. Select Equity Group L.P. bought a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $216,729,000. Findlay Park Partners LLP bought a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $176,436,000. Canada Pension Plan Investment Board grew its holdings in shares of Live Nation Entertainment by 27.5% in the second quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock valued at $471,581,000 after acquiring an additional 2,096,500 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Live Nation Entertainment by 6.0% in the third quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock valued at $748,517,000 after acquiring an additional 778,092 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Live Nation Entertainment by 902.5% in the third quarter. Korea Investment CORP now owns 598,500 shares of the company’s stock valued at $32,600,000 after acquiring an additional 538,800 shares in the last quarter. 69.34% of the stock is owned by institutional investors.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 7,000 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $54.07, for a total transaction of $378,490.00. Following the completion of the transaction, the director now directly owns 17,508 shares of the company’s stock, valued at $946,657.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 25,000 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $56.47, for a total value of $1,411,750.00. Following the transaction, the executive vice president now directly owns 191,237 shares of the company’s stock, valued at $10,799,153.39. The disclosure for this sale can be found here. 5.19% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the company. Macquarie reaffirmed a “buy” rating and issued a $60.00 target price on shares of Live Nation Entertainment in a report on Thursday, November 22nd. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Finally, ValuEngine raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $57.35.

Shares of NYSE LYV opened at $55.68 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $35.94 and a 1-year high of $58.26. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of -116.00 and a beta of 0.99. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.08.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the company posted $0.53 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts anticipate that Live Nation Entertainment, Inc. will post -0.06 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This story was posted by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.com-unik.info/2018/12/02/live-nation-entertainment-inc-lyv-stake-lessened-by-carillon-tower-advisers-inc.html.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

Recommended Story: How can you know how many shares are floating?

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV).

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

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit