State of Tennessee Treasury Department Maintains Position in Live Nation Entertainment, Inc. (LYV)

State of Tennessee Treasury Department held its position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,900 shares of the company’s stock at the end of the 2nd quarter. State of Tennessee Treasury Department’s holdings in Live Nation Entertainment were worth $3,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its stake in Live Nation Entertainment by 57.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,058 shares of the company’s stock valued at $420,000 after acquiring an additional 4,387 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Live Nation Entertainment by 75.4% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 500,000 shares of the company’s stock valued at $17,425,000 after acquiring an additional 215,000 shares during the last quarter. Swiss National Bank lifted its stake in Live Nation Entertainment by 1.7% in the second quarter. Swiss National Bank now owns 221,700 shares of the company’s stock valued at $7,726,000 after acquiring an additional 3,700 shares during the last quarter. Pacad Investment Ltd. lifted its stake in Live Nation Entertainment by 277.8% in the second quarter. Pacad Investment Ltd. now owns 14,300 shares of the company’s stock valued at $498,000 after acquiring an additional 10,515 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Live Nation Entertainment in the second quarter valued at approximately $3,674,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

A number of brokerages have recently weighed in on LYV. Jefferies Group LLC restated a “buy” rating and issued a $42.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Zacks Investment Research cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. Stephens restated an “overweight” rating and issued a $44.00 price objective (up from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. Finally, William Blair began coverage on shares of Live Nation Entertainment in a research note on Friday, July 21st. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Live Nation Entertainment currently has an average rating of “Buy” and an average target price of $39.71.

In related news, insider Brian Capo sold 7,500 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 13,354 shares in the company, valued at $540,837. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.77% of the stock is currently owned by company insiders.

Live Nation Entertainment, Inc. (NYSE:LYV) opened at 41.49 on Friday. The company’s 50-day moving average is $39.12 and its 200 day moving average is $34.36. Live Nation Entertainment, Inc. has a 1-year low of $25.70 and a 1-year high of $42.20. The firm has a market capitalization of $8.51 billion, a PE ratio of 5927.14 and a beta of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the business earned $0.13 earnings per share. Live Nation Entertainment’s revenue was up 29.3% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment, Inc. will post $0.22 EPS for the current fiscal year.

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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.

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

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