Parametric Portfolio Associates LLC raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 32.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 397,806 shares of the company’s stock after buying an additional 96,716 shares during the period. Parametric Portfolio Associates LLC owned about 0.19% of Live Nation Entertainment worth $25,277,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scout Investments Inc. boosted its stake in Live Nation Entertainment by 179.1% in the first quarter. Scout Investments Inc. now owns 218,435 shares of the company’s stock valued at $13,879,000 after acquiring an additional 140,170 shares during the last quarter. Macquarie Group Ltd. bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $217,000. State Board of Administration of Florida Retirement System boosted its stake in Live Nation Entertainment by 2.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 179,985 shares of the company’s stock valued at $11,436,000 after acquiring an additional 3,542 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Live Nation Entertainment by 137.7% during the fourth quarter. Bank of Montreal Can now owns 99,553 shares of the company’s stock worth $4,904,000 after purchasing an additional 57,678 shares in the last quarter. Finally, Mizuho Securities USA LLC bought a new position in shares of Live Nation Entertainment during the fourth quarter worth $685,000. 70.05% of the stock is owned by institutional investors.
NYSE LYV traded down $0.42 on Wednesday, hitting $66.05. 743,371 shares of the company were exchanged, compared to its average volume of 1,207,943. Live Nation Entertainment, Inc. has a 12 month low of $46.02 and a 12 month high of $67.48. The stock has a market capitalization of $13.99 billion, a P/E ratio of -733.89 and a beta of 1.13. The stock’s fifty day moving average is $63.71. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 0.94.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.03. Live Nation Entertainment had a net margin of 0.22% and a return on equity of 1.77%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 0.27 earnings per share for the current year.
In related news, Director Robert Ted Enloe III sold 5,447 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $62.45, for a total transaction of $340,165.15. Following the completion of the sale, the director now owns 67,886 shares in the company, valued at $4,239,480.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowles sold 67,840 shares of Live Nation Entertainment stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.14, for a total transaction of $4,283,417.60. The disclosure for this sale can be found here. Insiders have sold 89,077 shares of company stock valued at $5,643,290 in the last 90 days. 4.82% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Atlantic Securities started coverage on shares of Live Nation Entertainment in a research note on Tuesday, June 11th. They set an “overweight” rating and a $75.00 price objective on the stock. Berenberg Bank began coverage on shares of Live Nation Entertainment in a research note on Tuesday, May 14th. They set a “buy” rating and a $73.00 price objective on the stock. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Stephens lifted their target price on shares of Live Nation Entertainment to $70.00 and gave the stock an “overweight” rating in a report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $63.18.
Live Nation Entertainment Company 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 or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
Featured Article: How are Outstanding Shares Different from Authorized Shares?
Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.