Louisiana State Employees Retirement System Buys 1,100 Shares of Live Nation Entertainment, Inc. (LYV)

Louisiana State Employees Retirement System increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,800 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Live Nation Entertainment were worth $2,059,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NumerixS Investment Technologies Inc boosted its position in shares of Live Nation Entertainment by 130.8% during the second 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 period. Pinnacle Associates Ltd. purchased a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $205,000. Santa Monica Partners LP purchased a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $228,000. Hartford Investment Management Co. purchased a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $239,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $258,000. Institutional investors and hedge funds own 69.81% of the company’s stock.

Several research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Live Nation Entertainment from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 17th. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 28th. Goldman Sachs Group boosted their target price on Live Nation Entertainment from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Finally, Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.21.

In related news, Director Robert Ted Enloe III sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $54.07, for a total value of $378,490.00. Following the completion of the transaction, the director now owns 17,508 shares of the company’s stock, valued at $946,657.56. The sale 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 business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total transaction of $988,800.00. Following the completion of the transaction, the chief financial officer now directly owns 299,338 shares of the company’s stock, valued at approximately $14,799,270.72. The disclosure for this sale can be found here. Insiders sold 247,000 shares of company stock valued at $12,186,490 in the last quarter. 5.19% of the stock is owned by company insiders.

Shares of NYSE LYV opened at $53.85 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $11.39 billion, a P/E ratio of -112.19 and a beta of 1.01. Live Nation Entertainment, Inc. has a 52-week low of $35.94 and a 52-week high of $55.26.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. Live Nation Entertainment’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. Analysts anticipate that Live Nation Entertainment, Inc. will post 0.01 EPS for the current year.

Live Nation Entertainment 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 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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