SG Americas Securities LLC lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 54.0% in the 3rd quarter, Holdings Channel reports. The firm owned 29,616 shares of the company’s stock after purchasing an additional 10,381 shares during the period. SG Americas Securities LLC’s holdings in Live Nation Entertainment were worth $1,613,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. RWC Asset Management LLP boosted its position in shares of Live Nation Entertainment by 8.0% during the third quarter. RWC Asset Management LLP now owns 432,656 shares of the company’s stock worth $23,567,000 after buying an additional 31,973 shares during the period. Sterling Capital Management LLC boosted its position in shares of Live Nation Entertainment by 7.4% during the second quarter. Sterling Capital Management LLC now owns 1,053,819 shares of the company’s stock worth $51,184,000 after buying an additional 73,061 shares during the period. Arizona State Retirement System boosted its position in shares of Live Nation Entertainment by 3.0% during the second quarter. Arizona State Retirement System now owns 94,262 shares of the company’s stock worth $4,578,000 after buying an additional 2,719 shares during the period. Sawtooth Solutions LLC purchased a new position in shares of Live Nation Entertainment during the second quarter worth $304,000. Finally, Raymond James & Associates boosted its position in shares of Live Nation Entertainment by 29.4% during the second quarter. Raymond James & Associates now owns 93,672 shares of the company’s stock worth $4,550,000 after buying an additional 21,310 shares during the period. 68.81% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on LYV. ValuEngine upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Finally, Macquarie reiterated a “buy” rating and issued a $60.00 target price on shares of Live Nation Entertainment in a report on Thursday, November 22nd. One research 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 stock. The stock currently has an average rating of “Buy” and an average price target of $57.35.
NYSE:LYV opened at $54.37 on Wednesday. The firm has a market capitalization of $11.67 billion, a P/E ratio of -113.27 and a beta of 1.04. Live Nation Entertainment, Inc. has a 12-month low of $35.94 and a 12-month high of $58.26. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.76.
Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.72 billion. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Equities research analysts predict that Live Nation Entertainment, Inc. will post -0.06 earnings per share for the current year.
In other Live Nation Entertainment news, EVP Michael Rowles sold 25,000 shares of Live Nation Entertainment stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $56.47, for a total transaction of $1,411,750.00. Following the completion of the sale, the executive vice president now directly owns 191,237 shares of the company’s stock, valued at approximately $10,799,153.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Ted Enloe III sold 7,000 shares of Live Nation Entertainment stock in a transaction dated Friday, September 14th. The stock was 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 of the company’s stock, valued at $946,657.56. The disclosure for this sale can be found here. Company insiders own 5.19% of the company’s stock.
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Live Nation Entertainment Profile
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.
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