IFM Investors Pty Ltd Has $362,000 Holdings in Live Nation Entertainment, Inc. (LYV)

IFM Investors Pty Ltd boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,645 shares of the company’s stock after acquiring an additional 1,327 shares during the quarter. IFM Investors Pty Ltd’s holdings in Live Nation Entertainment were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $303,000. Legal & General Group Plc raised its position in shares of Live Nation Entertainment by 5.8% in the 1st quarter. Legal & General Group Plc now owns 287,378 shares of the company’s stock valued at $12,110,000 after purchasing an additional 15,879 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Live Nation Entertainment by 3.8% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 98,257 shares of the company’s stock valued at $4,772,000 after purchasing an additional 3,580 shares in the last quarter. DnB Asset Management AS raised its position in shares of Live Nation Entertainment by 14.7% in the 2nd quarter. DnB Asset Management AS now owns 13,287 shares of the company’s stock valued at $645,000 after purchasing an additional 1,700 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Live Nation Entertainment by 32.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 16,310 shares of the company’s stock valued at $792,000 after purchasing an additional 3,980 shares in the last quarter. Hedge funds and other institutional investors own 69.69% of the company’s stock.

Shares of LYV opened at $53.19 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $35.94 and a 52-week high of $55.26. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of -110.81 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.95.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.72 billion. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.01 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the company. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 28th. Stephens set a $60.00 target price on Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 17th. Guggenheim reaffirmed a “buy” rating and issued a $55.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 13th. Finally, Jefferies Financial Group upped their target price on Live Nation Entertainment from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.01.

In related news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total transaction of $988,800.00. Following the sale, the chief financial officer now directly owns 299,338 shares of the company’s stock, valued at approximately $14,799,270.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Ted Enloe III sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $54.07, for a total value of $378,490.00. Following the sale, the director now directly owns 17,508 shares in the company, valued at $946,657.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,000 shares of company stock worth $12,186,490. Corporate insiders own 5.19% 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 and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

Further Reading: Growth Stocks

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

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