Cubist Systematic Strategies LLC Has $739,000 Holdings in Live Nation Entertainment, Inc. (LYV)

Cubist Systematic Strategies LLC lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 70.0% during the second quarter, Holdings Channel reports. The institutional investor owned 15,210 shares of the company’s stock after selling 35,407 shares during the period. Cubist Systematic Strategies LLC’s holdings in Live Nation Entertainment were worth $739,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. NumerixS Investment Technologies Inc grew its holdings in Live Nation Entertainment by 130.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 4,171 shares of the company’s stock valued at $203,000 after buying an additional 2,364 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in Live Nation Entertainment during the 2nd quarter valued at $205,000. Point72 Asia Hong Kong Ltd acquired a new stake in Live Nation Entertainment during the 1st quarter valued at $194,000. Santa Monica Partners LP acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $228,000. Finally, TLP Group LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter worth $201,000. Hedge funds and other institutional investors own 69.82% of the company’s stock.

In related news, President Joe Berchtold sold 40,000 shares of Live Nation Entertainment stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $48.70, for a total value of $1,948,000.00. Following the transaction, the president now owns 148,409 shares in the company, valued at $7,227,518.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $48.41, for a total value of $968,200.00. Following the completion of the transaction, the chief financial officer now owns 259,338 shares in the company, valued at approximately $12,554,552.58. The disclosure for this sale can be found here. Insiders sold 247,000 shares of company stock worth $12,186,490 in the last quarter. 5.19% of the stock is owned by insiders.

LYV has been the topic of several analyst reports. Citigroup restated a “buy” rating and set a $56.00 price objective (up previously from $45.00) on shares of Live Nation Entertainment in a report on Thursday, June 28th. Guggenheim restated a “buy” rating and set a $55.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 13th. ValuEngine cut Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 28th. Stephens set a $60.00 price objective on Live Nation Entertainment and gave the stock a “buy” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Finally, Jefferies Financial Group raised their price objective on Live Nation Entertainment from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.21.

LYV stock opened at $53.41 on Monday. Live Nation Entertainment, Inc. has a 52-week low of $35.94 and a 52-week high of $55.26. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $11.17 billion, a PE ratio of -111.27 and a beta of 1.05.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. equities research analysts predict that Live Nation Entertainment, Inc. will post 0.01 EPS for the current fiscal year.

About Live Nation Entertainment

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

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