Louisiana State Employees Retirement System lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 35,700 shares of the company’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Live Nation Entertainment were worth $2,517,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LYV. Parallel Advisors LLC grew its stake in shares of Live Nation Entertainment by 81.0% in the 1st quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock valued at $35,000 after buying an additional 243 shares in the last quarter. CWM LLC grew its position in Live Nation Entertainment by 59.5% in the first quarter. CWM LLC now owns 622 shares of the company’s stock valued at $40,000 after acquiring an additional 232 shares during the period. Icon Wealth Partners LLC bought a new stake in shares of Live Nation Entertainment during the first quarter worth $40,000. Hilton Capital Management LLC bought a new stake in shares of Live Nation Entertainment during the first quarter worth $69,000. Finally, HRT Financial LLC bought a new position in Live Nation Entertainment in the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.
A number of brokerages recently issued reports on LYV. Stephens started coverage on Lilis Energy in a research report on Friday, March 29th. They issued an “equal weight” rating and a $2.00 target price on the stock. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 340 ($4.44) price objective on shares of Stock Spirits Group in a report on Tuesday, May 14th. Zacks Investment Research raised Radiant Logistics from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Friday. ValuEngine lowered Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Citigroup reiterated a “buy” rating on shares of Healthequity in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $67.50.
Shares of Live Nation Entertainment stock opened at $72.53 on Friday. The stock has a market capitalization of $15.00 billion, a P/E ratio of -805.89 and a beta of 1.13. Live Nation Entertainment, Inc. has a 52 week low of $46.02 and a 52 week high of $73.17. The business has a 50 day moving average of $67.39. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.18 billion. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. Equities analysts expect that Live Nation Entertainment, Inc. will post 0.28 EPS for the current fiscal year.
In other news, Director Robert Ted Enloe III sold 5,447 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $62.45, for a total value of $340,165.15. Following the completion of the transaction, the director now directly owns 67,886 shares of the company’s stock, valued at $4,239,480.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ariel Emanuel sold 7,790 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $64.25, for a total value of $500,507.50. Following the completion of the transaction, the director now directly owns 71,394 shares of the company’s stock, valued at $4,587,064.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,077 shares of company stock valued at $5,643,290. Company 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.
Further Reading: What is a balanced fund?
Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV).
Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.