Live Nation Entertainment, Inc. (LYV) Stake Cut by Boston Partners

Boston Partners cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 74.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 101,152 shares of the company’s stock after selling 291,019 shares during the period. Boston Partners’ holdings in Live Nation Entertainment were worth $3,525,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LYV. NJ State Employees Deferred Compensation Plan purchased a new stake in Live Nation Entertainment during the second quarter valued at about $210,000. PICTET BANK & TRUST Ltd purchased a new stake in Live Nation Entertainment during the first quarter valued at about $225,000. Oppenheimer Asset Management Inc. purchased a new stake in Live Nation Entertainment during the first quarter valued at about $233,000. KBC Group NV purchased a new stake in Live Nation Entertainment during the first quarter valued at about $238,000. Finally, World Asset Management Inc boosted its stake in Live Nation Entertainment by 9.7% in the first quarter. World Asset Management Inc now owns 8,844 shares of the company’s stock valued at $269,000 after buying an additional 783 shares in the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 38.38 on Monday. The stock has a market cap of $7.87 billion, a PE ratio of 5482.86 and a beta of 1.00. Live Nation Entertainment, Inc. has a 52-week low of $25.56 and a 52-week high of $42.20. The stock’s 50 day moving average is $36.77 and its 200 day moving average is $32.95.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm posted $0.13 EPS. Live Nation Entertainment’s revenue for the quarter was up 29.3% compared to the same quarter last year. Equities research analysts forecast that Live Nation Entertainment, Inc. will post $0.22 earnings per share for the current year.

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Several analysts have issued reports on LYV shares. Guggenheim started coverage on shares of Live Nation Entertainment in a research note on Wednesday, May 24th. They issued a “buy” rating and a $40.00 target price on the stock. Citigroup Inc. reiterated a “buy” rating and issued a $39.00 target price (up from $32.00) on shares of Live Nation Entertainment in a research note on Friday, May 19th. Jefferies Group LLC reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, May 15th. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, April 26th. Finally, Macquarie increased their target price on shares of Live Nation Entertainment from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $39.43.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 6,337 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $35.82, for a total transaction of $226,991.34. Following the completion of the transaction, the director now directly owns 23,450 shares of the company’s stock, valued at approximately $839,979. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total transaction of $697,200.00. Following the transaction, the chief financial officer now directly owns 286,216 shares of the company’s stock, valued at $9,977,489.76. The disclosure for this sale can be found here. Company insiders own 4.77% of the company’s stock.

About Live Nation Entertainment

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.

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

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