Northern Trust Corp Reduces Holdings in Live Nation Entertainment, Inc. (LYV)

Northern Trust Corp cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,336,186 shares of the company’s stock after selling 129,078 shares during the quarter. Northern Trust Corp owned 0.64% of Live Nation Entertainment worth $64,898,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in Live Nation Entertainment by 7.4% in 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 during the last quarter. Arizona State Retirement System raised its position in Live Nation Entertainment by 3.0% in the second quarter. Arizona State Retirement System now owns 94,262 shares of the company’s stock valued at $4,578,000 after purchasing an additional 2,719 shares during the last quarter. Sawtooth Solutions LLC bought a new position in Live Nation Entertainment in the second quarter valued at about $304,000. Toronto Dominion Bank raised its position in Live Nation Entertainment by 47.2% in the second quarter. Toronto Dominion Bank now owns 14,584 shares of the company’s stock valued at $709,000 after purchasing an additional 4,675 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Live Nation Entertainment by 19.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 755,361 shares of the company’s stock valued at $36,688,000 after purchasing an additional 122,704 shares during the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.

Several research firms have commented on LYV. Jefferies Financial Group increased 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 downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 17th. ValuEngine downgraded Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 28th. Goldman Sachs Group increased 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 reiterated a “buy” rating and issued a $55.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $55.21.

Shares of LYV opened at $52.29 on Monday. Live Nation Entertainment, Inc. has a 1 year low of $35.94 and a 1 year high of $55.26. 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 stock has a market cap of $11.39 billion, a PE ratio of -108.94 and a beta of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company earned $0.29 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 0.01 EPS for the current fiscal year.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 7,000 shares of Live Nation Entertainment stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,508 shares in the company, valued at $946,657.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total value of $988,800.00. Following the completion of the sale, the chief financial officer now owns 299,338 shares of the company’s stock, valued at $14,799,270.72. The disclosure for this sale can be found here. Insiders have sold 247,000 shares of company stock valued at $12,186,490 over the last 90 days. 5.19% of the stock is owned by corporate insiders.

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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