Live Nation Entertainment, Inc. (LYV) Shares Sold by BB&T Corp

BB&T Corp cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,451 shares of the company’s stock after selling 12,039 shares during the period. BB&T Corp’s holdings in Live Nation Entertainment were worth $8,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LYV. Canada Pension Plan Investment Board boosted its position in shares of Live Nation Entertainment by 27.5% during the second quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock valued at $471,581,000 after purchasing an additional 2,096,500 shares in the last quarter. Select Equity Group L.P. bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $216,729,000. Diamond Hill Capital Management Inc. boosted its position in shares of Live Nation Entertainment by 12.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,068,020 shares of the company’s stock valued at $51,874,000 after purchasing an additional 114,281 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Live Nation Entertainment by 7.4% during the second quarter. Sterling Capital Management LLC now owns 1,053,819 shares of the company’s stock valued at $51,184,000 after purchasing an additional 73,061 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its position in shares of Live Nation Entertainment by 18.7% during the second quarter. Stephens Investment Management Group LLC now owns 852,369 shares of the company’s stock valued at $41,502,000 after purchasing an additional 134,073 shares in the last quarter. 69.81% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment stock opened at $52.60 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 12 month low of $35.94 and a 12 month high of $55.26. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of -110.63 and a beta of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 26th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $2.85 billion. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts predict that Live Nation Entertainment, Inc. will post 0.01 EPS for the current year.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 7,000 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $54.07, for a total value of $378,490.00. Following the sale, the director now directly owns 17,508 shares of the company’s stock, valued at $946,657.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $48.41, for a total value of $968,200.00. Following the completion of the sale, the chief financial officer now directly owns 259,338 shares in the company, valued at $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 over the last three months. Corporate insiders own 5.19% of the company’s stock.

Several equities research analysts recently weighed in on LYV shares. Citigroup restated a “buy” rating and set a $56.00 price target (up from $45.00) on shares of Live Nation Entertainment in a research report on Thursday, June 28th. Guggenheim restated a “buy” rating and set a $55.00 price target on shares of Live Nation Entertainment in a research report on Friday, July 13th. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 28th. Stephens set a $60.00 price target on Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Finally, Jefferies Financial Group lifted their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.21.

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 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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