Duality Advisers LP bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 36,272 shares of the company’s stock, valued at approximately $1,608,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in Live Nation Entertainment by 12.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 32,431 shares of the company’s stock valued at $1,474,000 after buying an additional 3,655 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Live Nation Entertainment by 18.5% in the 1st quarter. William Blair Investment Management LLC now owns 4,843,156 shares of the company’s stock worth $220,170,000 after purchasing an additional 754,785 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Live Nation Entertainment by 27.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 141,117 shares of the company’s stock worth $6,415,000 after purchasing an additional 30,563 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Live Nation Entertainment by 40.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 835,264 shares of the company’s stock worth $37,971,000 after purchasing an additional 240,644 shares in the last quarter. Finally, Norges Bank purchased a new stake in Live Nation Entertainment during the 4th quarter valued at about $96,938,000. 74.37% of the stock is currently owned by hedge funds and other institutional investors.
LYV stock opened at $46.81 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $21.70 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 4.09, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average price is $46.97 and its 200-day moving average price is $51.41.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.36). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Live Nation Entertainment had a negative net margin of 0.91% and a negative return on equity of 7.21%. The firm’s revenue was down 21.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.31) EPS. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post -4.94 EPS for the current year.
Several research analysts have issued reports on LYV shares. G.Research decreased their target price on shares of Live Nation Entertainment from $94.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Berenberg Bank restated a “hold” rating and issued a $47.00 price objective on shares of Live Nation Entertainment in a report on Monday, April 13th. Citigroup increased their target price on Live Nation Entertainment from $35.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, July 6th. Zacks Investment Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Finally, William Blair reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $65.20.
In related news, CFO Elizabeth Kathleen Willard sold 68,040 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $53.53, for a total value of $3,642,181.20. Following the transaction, the chief financial officer now directly owns 326,399 shares of the company’s stock, valued at approximately $17,472,138.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 3,000 shares of Live Nation Entertainment stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.02, for a total value of $174,060.00. Following the transaction, the director now owns 68,336 shares in the company, valued at $3,964,854.72. The disclosure for this sale can be found here. 5.48% of the stock is owned by corporate insiders.
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 or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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