US Bancorp DE Increases Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

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US Bancorp DE raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.5% during the first quarter, Holdings Channel reports. The fund owned 8,126 shares of the company’s stock after purchasing an additional 635 shares during the quarter. US Bancorp DE’s holdings in Live Nation Entertainment were worth $516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Live Nation Entertainment by 3.9% during the 4th quarter. BlackRock Inc. now owns 14,273,694 shares of the company’s stock valued at $702,980,000 after acquiring an additional 531,854 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Live Nation Entertainment by 15.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 10,823,188 shares of the company’s stock worth $532,997,000 after purchasing an additional 1,456,888 shares in the last quarter. Findlay Park Partners LLP increased its stake in shares of Live Nation Entertainment by 10.8% during the 1st quarter. Findlay Park Partners LLP now owns 5,627,885 shares of the company’s stock worth $357,596,000 after purchasing an additional 550,000 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Live Nation Entertainment by 6,602.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock worth $72,000 after purchasing an additional 3,511,969 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Live Nation Entertainment by 3.5% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,200,865 shares of the company’s stock worth $108,393,000 after purchasing an additional 73,626 shares in the last quarter. Institutional investors own 70.69% of the company’s stock.

In related news, Director Mark S. Shapiro sold 8,000 shares of Live Nation Entertainment stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $64.90, for a total transaction of $519,200.00. Following the transaction, the director now owns 36,765 shares in the company, valued at approximately $2,386,048.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Ted Enloe III sold 5,447 shares of Live Nation Entertainment stock in a transaction on Friday, June 7th. The shares were sold at an average price of $62.45, for a total transaction of $340,165.15. Following the transaction, the director now owns 67,886 shares in the company, valued at approximately $4,239,480.70. The disclosure for this sale can be found here. Insiders have sold a total of 21,237 shares of company stock worth $1,359,873 in the last 90 days. Company insiders own 4.82% of the company’s stock.

Shares of NYSE LYV opened at $63.39 on Thursday. Live Nation Entertainment, Inc. has a 52-week low of $46.02 and a 52-week high of $67.00. The firm has a market cap of $13.37 billion, a PE ratio of -704.33 and a beta of 1.13. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Live Nation Entertainment had a net margin of 0.22% and a return on equity of 1.77%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) EPS. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.27 EPS for the current fiscal year.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. ValuEngine raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Berenberg Bank assumed coverage on shares of Live Nation Entertainment in a research note on Tuesday, May 14th. They issued a “buy” rating and a $73.00 target price for the company. Stephens lifted their target price on shares of Live Nation Entertainment to $70.00 and gave the stock an “overweight” rating in a research note on Friday, March 29th. Finally, Citigroup cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $59.00 to $63.00 in a research note on Friday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $63.18.

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

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