Duality Advisers LP purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,272 shares of the company’s stock, valued at approximately $1,608,000.
Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Live Nation Entertainment by 12.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 32,431 shares of the company’s stock valued at $1,474,000 after acquiring an additional 3,655 shares in the last quarter. William Blair Investment Management LLC raised its holdings 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 valued at $220,170,000 after purchasing an additional 754,785 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of 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 valued at $6,415,000 after purchasing an additional 30,563 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of 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 during the period. Finally, Norges Bank bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $96,938,000. Hedge funds and other institutional investors own 74.37% of the company’s stock.
In related news, CFO Elizabeth Kathleen Willard sold 68,040 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $53.53, for a total transaction of $3,642,181.20. Following the completion of the transaction, the chief financial officer now directly owns 326,399 shares in the company, valued at $17,472,138.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 3,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.02, for a total transaction of $174,060.00. Following the transaction, the director now owns 68,336 shares of the company’s stock, 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.
NYSE LYV opened at $46.81 on Friday. The company has a debt-to-equity ratio of 4.09, a current ratio of 1.03 and a quick 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, Inc. has a 1 year low of $21.70 and a 1 year high of $76.60.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.36). Live Nation Entertainment had a negative net margin of 0.91% and a negative return on equity of 7.21%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted ($0.31) EPS. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post -4.94 EPS for the current fiscal year.
LYV has been the subject of a number of analyst reports. Zacks Investment Research lowered Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Berenberg Bank reaffirmed a “hold” rating and set a $47.00 price objective on shares of Live Nation Entertainment in a research report on Monday, April 13th. Citigroup boosted their target price on shares of Live Nation Entertainment from $35.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, July 6th. Cowen decreased their price target on shares of Live Nation Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Finally, William Blair reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Live Nation Entertainment presently has an average rating of “Buy” and an average target price of $65.20.
About Live Nation Entertainment
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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