Legal & General Group Plc grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,440 shares of the company’s stock after acquiring an additional 8,885 shares during the quarter. Legal & General Group Plc owned 0.09% of Live Nation Entertainment worth $8,249,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. NorthCoast Asset Management LLC boosted its position in shares of Live Nation Entertainment by 32.8% in the third quarter. NorthCoast Asset Management LLC now owns 26,811 shares of the company’s stock valued at $1,168,000 after acquiring an additional 6,621 shares during the period. LMR Partners LLP acquired a new position in shares of Live Nation Entertainment in the third quarter valued at $583,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Live Nation Entertainment by 10.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 550,000 shares of the company’s stock valued at $23,953,000 after purchasing an additional 50,000 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Live Nation Entertainment in the third quarter valued at $134,000. Finally, Pacer Advisors Inc. raised its stake in shares of Live Nation Entertainment by 12.2% in the third quarter. Pacer Advisors Inc. now owns 28,738 shares of the company’s stock valued at $1,252,000 after purchasing an additional 3,132 shares in the last quarter. 68.09% of the stock is owned by institutional investors.
Live Nation Entertainment, Inc. (LYV) traded down $0.23 during trading on Thursday, reaching $42.69. The company’s stock had a trading volume of 1,805,900 shares, compared to its average volume of 1,453,080. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. Live Nation Entertainment, Inc. has a 1 year low of $26.41 and a 1 year high of $46.99. The firm has a market capitalization of $8,920.00, a price-to-earnings ratio of 2,146.00 and a beta of 1.05.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.2 EPS for the current fiscal year.
In other Live Nation Entertainment news, CEO Michael Rapino sold 70,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00. Following the completion of the transaction, the chief executive officer now directly owns 395,277 shares in the company, valued at $17,969,292.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 46,511 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $43.35, for a total value of $2,016,251.85. Following the transaction, the executive vice president now owns 192,054 shares of the company’s stock, valued at $8,325,540.90. The disclosure for this sale can be found here. Insiders have sold 1,106,511 shares of company stock valued at $49,467,752 over the last quarter. Corporate insiders own 4.77% of the company’s stock.
A number of research analysts recently commented on LYV shares. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Jefferies Group restated a “buy” rating and issued a $42.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 12th. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Macquarie restated a “buy” rating and issued a $48.00 target price on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Live Nation Entertainment presently has a consensus rating of “Buy” and a consensus target price of $42.86.
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Live Nation Entertainment Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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