Los Angeles Capital Management & Equity Research Inc. Buys New Stake in Live Nation Entertainment, Inc. (LYV)

Los Angeles Capital Management & Equity Research Inc. bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 39,027 shares of the company’s stock, valued at approximately $1,700,000.

A number of other institutional investors have also recently modified their holdings of LYV. The Manufacturers Life Insurance Company increased its holdings in Live Nation Entertainment by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 198,179 shares of the company’s stock worth $6,906,000 after purchasing an additional 5,319 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in Live Nation Entertainment during the 2nd quarter worth approximately $3,674,000. BB&T Corp increased its holdings in Live Nation Entertainment by 2.8% during the 3rd quarter. BB&T Corp now owns 177,974 shares of the company’s stock worth $7,751,000 after purchasing an additional 4,895 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Live Nation Entertainment by 8.2% during the 3rd quarter. Fisher Asset Management LLC now owns 453,765 shares of the company’s stock worth $19,761,000 after purchasing an additional 34,434 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Live Nation Entertainment by 82.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 53,630 shares of the company’s stock worth $1,869,000 after purchasing an additional 24,226 shares in the last quarter. 68.67% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Michael Rapino sold 210,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $45.14, for a total value of $9,479,400.00. Following the transaction, the chief executive officer now owns 185,277 shares in the company, valued at approximately $8,363,403.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Capo sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the insider now owns 13,354 shares in the company, valued at approximately $540,837. The disclosure for this sale can be found here. Insiders sold a total of 524,011 shares of company stock worth $23,506,002 in the last 90 days. Company insiders own 4.77% of the company’s stock.

Live Nation Entertainment, Inc. (LYV) opened at $45.26 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $26.41 and a 12 month high of $46.33. The firm has a market capitalization of $9,360.00, a P/E ratio of 2,263.00 and a beta of 1.06. 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 (NYSE:LYV) last announced its earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. Live Nation Entertainment’s quarterly revenue was up 12.3% on a year-over-year basis. research analysts forecast that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current fiscal year.

A number of brokerages have commented on LYV. Jefferies Group LLC reissued a “buy” rating and set a $42.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, September 12th. Macquarie reissued a “buy” rating and set a $48.00 price objective on shares of Live Nation Entertainment in a report on Sunday, November 5th. Zacks Investment Research downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Stephens restated an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment presently has a consensus rating of “Buy” and an average price target 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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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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