Levin Capital Strategies L.P. raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,511 shares of the company’s stock after acquiring an additional 1,733 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Live Nation Entertainment were worth $2,396,000 as of its most recent SEC filing.
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Several other large investors have also made changes to their positions in LYV. State Board of Administration of Florida Retirement System lifted its position in shares of Live Nation Entertainment by 0.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 161,121 shares of the company’s stock worth $12,252,000 after buying an additional 695 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Live Nation Entertainment by 5.3% during the third quarter. Mutual of America Capital Management LLC now owns 19,645 shares of the company’s stock valued at $1,494,000 after purchasing an additional 992 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Live Nation Entertainment by 4.6% during the 3rd quarter. Treasurer of the State of North Carolina now owns 68,151 shares of the company’s stock valued at $5,182,000 after buying an additional 2,980 shares in the last quarter. KBC Group NV grew its position in Live Nation Entertainment by 12.6% in the third quarter. KBC Group NV now owns 12,953 shares of the company’s stock worth $985,000 after acquiring an additional 1,447 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its position in Live Nation Entertainment by 1.7% in the third quarter. Stephens Investment Management Group LLC now owns 649,225 shares of the company’s stock worth $49,367,000 after acquiring an additional 10,555 shares in the last quarter. 69.90% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Live Nation Entertainment news, Director Jimmy Iovine bought 13,740 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was acquired at an average price of $73.28 per share, with a total value of $1,006,867.20. Following the completion of the acquisition, the director now directly owns 13,740 shares of the company’s stock, valued at $1,006,867.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Guggenheim decreased their price objective on shares of Live Nation Entertainment from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, October 7th. StockNews.com raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Jefferies Financial Group cut their price objective on shares of Live Nation Entertainment from $120.00 to $92.00 in a report on Thursday, December 8th. Citigroup raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and cut their price objective for the company from $90.00 to $82.00 in a report on Monday, November 28th. Finally, The Goldman Sachs Group cut their price objective on shares of Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.67.
Live Nation Entertainment Price Performance
Shares of Live Nation Entertainment stock traded up $1.53 during trading hours on Thursday, reaching $82.85. The stock had a trading volume of 381,232 shares, compared to its average volume of 2,092,238. The stock’s 50 day moving average is $72.74 and its 200 day moving average is $80.54. The firm has a market capitalization of $19.13 billion, a PE ratio of 116.17 and a beta of 1.29. Live Nation Entertainment, Inc. has a twelve month low of $65.05 and a twelve month high of $126.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 12.85.
Live Nation Entertainment (NYSE:LYV – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. The business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $4.97 billion. Live Nation Entertainment had a net margin of 2.01% and a return on equity of 1,222.70%. Equities analysts expect that Live Nation Entertainment, Inc. will post 0.53 earnings per share for the current fiscal year.
Live Nation Entertainment Profile
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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.
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