Live Nation Entertainment, Inc. (NYSE:LYV) Holdings Decreased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,817,289 shares of the company’s stock after selling 1,895,294 shares during the quarter. Live Nation Entertainment comprises about 1.0% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 20th largest holding. Canada Pension Plan Investment Board’s holdings in Live Nation Entertainment were worth $746,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Voloridge Investment Management LLC raised its stake in shares of Live Nation Entertainment by 73.2% during the first quarter. Voloridge Investment Management LLC now owns 42,139 shares of the company’s stock valued at $3,567,000 after purchasing an additional 17,815 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Live Nation Entertainment during the first quarter worth about $8,322,000. State of Wisconsin Investment Board grew its holdings in Live Nation Entertainment by 9.3% during the first quarter. State of Wisconsin Investment Board now owns 126,709 shares of the company’s stock worth $10,726,000 after acquiring an additional 10,803 shares during the period. IHT Wealth Management LLC grew its holdings in Live Nation Entertainment by 16.5% during the first quarter. IHT Wealth Management LLC now owns 4,744 shares of the company’s stock worth $402,000 after acquiring an additional 673 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Live Nation Entertainment by 1.5% during the first quarter. California State Teachers Retirement System now owns 267,419 shares of the company’s stock worth $22,637,000 after acquiring an additional 3,977 shares during the period. Institutional investors and hedge funds own 71.54% of the company’s stock.

Shares of Live Nation Entertainment stock traded down $1.21 during trading on Thursday, hitting $78.79. 33,557 shares of the stock traded hands, compared to its average volume of 2,171,764. The company has a market capitalization of $17.23 billion, a PE ratio of -9.30 and a beta of 1.37. Live Nation Entertainment, Inc. has a twelve month low of $44.95 and a twelve month high of $94.63. The business’s fifty day moving average is $86.71.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 6th. The company reported ($1.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.66) by $0.22. The business had revenue of $290.60 million during the quarter, compared to analyst estimates of $287.45 million. Live Nation Entertainment had a negative return on equity of 1,833.44% and a negative net margin of 234.83%. The firm’s revenue was down 78.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.94) EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post -3.83 earnings per share for the current year.

A number of research analysts recently issued reports on LYV shares. Jefferies Financial Group raised Live Nation Entertainment from a “hold” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $96.00 in a report on Monday, May 10th. The Goldman Sachs Group initiated coverage on Live Nation Entertainment in a research note on Thursday, July 15th. They issued a “buy” rating and a $110.00 price target on the stock. Wolfe Research initiated coverage on Live Nation Entertainment in a research report on Wednesday, May 19th. They set an “outperform” rating and a $97.00 price objective for the company. Morgan Stanley raised their price objective on Live Nation Entertainment from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 5th. Finally, Zacks Investment Research upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Live Nation Entertainment presently has an average rating of “Hold” and an average target price of $80.13.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising 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; produces music festivals; creates associated content; and offers management and other services to artists.

Recommended Story: Intrinsic Value

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.