Rhumbline Advisers Grows Stake in Live Nation Entertainment, Inc. (LYV)

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Rhumbline Advisers raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,121 shares of the company’s stock after buying an additional 5,721 shares during the quarter. Rhumbline Advisers owned about 0.14% of Live Nation Entertainment worth $13,751,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LYV. Eaton Vance Management grew its holdings in shares of Live Nation Entertainment by 1,296.3% during the first quarter. Eaton Vance Management now owns 928,234 shares of the company’s stock worth $39,116,000 after buying an additional 861,757 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Live Nation Entertainment during the first quarter worth $23,929,000. Mackay Shields LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter worth $22,209,000. Atlantic Trust Group LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter worth $17,164,000. Finally, Bluestein R H & Co. grew its holdings in shares of Live Nation Entertainment by 3,908.6% during the first quarter. Bluestein R H & Co. now owns 392,844 shares of the company’s stock worth $16,554,000 after buying an additional 383,044 shares in the last quarter. 69.71% of the stock is owned by institutional investors and hedge funds.

Shares of LYV stock opened at $49.20 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a twelve month low of $35.94 and a twelve month high of $52.84.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Live Nation Entertainment had a negative net margin of 0.35% and a negative return on equity of 2.49%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. equities research analysts expect that Live Nation Entertainment, Inc. will post 0.03 earnings per share for the current fiscal year.

LYV has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $55.00 target price on shares of Live Nation Entertainment in a report on Friday, July 13th. Citigroup reaffirmed a “buy” rating and set a $56.00 target price (up previously from $45.00) on shares of Live Nation Entertainment in a report on Thursday, June 28th. Jefferies Financial Group upped their target price on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 27th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.21.

In other news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $49.44, for a total transaction of $988,800.00. Following the transaction, the chief financial officer now owns 299,338 shares of the company’s stock, valued at approximately $14,799,270.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Ted Enloe III sold 4,389 shares of the business’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $45.11, for a total transaction of $197,987.79. Following the transaction, the director now directly owns 26,897 shares in the company, valued at approximately $1,213,323.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,389 shares of company stock worth $6,082,188. Corporate insiders own 5.19% of the company’s stock.

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

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