Illinois Municipal Retirement Fund Has $2.56 Million Stock Position in Live Nation Entertainment, Inc. $LYV

Illinois Municipal Retirement Fund lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 23.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 16,805 shares of the company’s stock after selling 5,147 shares during the period. Illinois Municipal Retirement Fund’s holdings in Live Nation Entertainment were worth $2,563,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of LYV. Empowered Funds LLC increased its holdings in shares of Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares during the period. Cerity Partners LLC increased its holdings in shares of Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after purchasing an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LYV. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Rothschild & Co Redburn upped their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Wolfe Research lifted their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.90.

Read Our Latest Stock Report on Live Nation Entertainment

Live Nation Entertainment Stock Performance

NYSE LYV opened at $180.31 on Monday. The firm has a 50-day moving average price of $172.41 and a two-hundred day moving average price of $159.98. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $188.00. The company has a market capitalization of $42.47 billion, a P/E ratio of -101.87 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYVGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Analysts anticipate that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Profile

(Free Report)

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.

See Also

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

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