Dorsey Wright & Associates Has $2.18 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

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Dorsey Wright & Associates trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,837 shares of the company’s stock after selling 1,705 shares during the quarter. Dorsey Wright & Associates’ holdings in Live Nation Entertainment were worth $2,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LPL Financial LLC raised its stake in shares of Live Nation Entertainment by 16.0% during the fourth quarter. LPL Financial LLC now owns 9,960 shares of the company’s stock valued at $491,000 after purchasing an additional 1,371 shares during the period. Stifel Financial Corp raised its stake in shares of Live Nation Entertainment by 1.4% during the fourth quarter. Stifel Financial Corp now owns 21,731 shares of the company’s stock valued at $1,072,000 after purchasing an additional 295 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $1,214,000. Thrivent Financial for Lutherans raised its stake in shares of Live Nation Entertainment by 8.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,463 shares of the company’s stock valued at $1,747,000 after purchasing an additional 2,698 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Live Nation Entertainment by 32.1% during the fourth quarter. Legal & General Group Plc now owns 396,778 shares of the company’s stock valued at $19,541,000 after purchasing an additional 96,473 shares during the period. Institutional investors and hedge funds own 70.03% of the company’s stock.

Shares of NYSE:LYV traded up $0.43 during midday trading on Tuesday, reaching $70.47. The company had a trading volume of 987,400 shares, compared to its average volume of 1,186,734. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94. The company’s fifty day simple moving average is $66.79. The stock has a market cap of $14.88 billion, a PE ratio of -783.00 and a beta of 1.13. Live Nation Entertainment, Inc. has a one year low of $46.02 and a one year high of $71.08.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates 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 revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 0.28 earnings per share for the current year.

A number of analysts have recently issued reports on LYV shares. Berenberg Bank reiterated a “buy” rating and set a GBX 340 ($4.44) price objective on shares of Stock Spirits Group in a research note on Tuesday, May 14th. ValuEngine lowered shares of Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Citigroup reiterated a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Finally, Atlantic Securities started coverage on shares of Live Nation Entertainment in a research note on Tuesday, June 11th. They set an “overweight” rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $64.00.

In related news, 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 value of $340,165.15. Following the completion of the sale, the director now owns 67,886 shares in the company, valued at $4,239,480.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ariel Emanuel sold 7,790 shares of Live Nation Entertainment stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $64.25, for a total transaction of $500,507.50. Following the completion of the sale, the director now owns 71,394 shares of the company’s stock, valued at approximately $4,587,064.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,077 shares of company stock valued at $5,643,290. Insiders own 4.82% of the company’s stock.

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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