Victory Capital Management Inc. trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 955,526 shares of the company’s stock after selling 165,710 shares during the period. Victory Capital Management Inc. owned 0.46% of Live Nation Entertainment worth $52,047,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. LPL Financial LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth about $303,000. DnB Asset Management AS increased its stake in shares of Live Nation Entertainment by 14.7% in the 2nd quarter. DnB Asset Management AS now owns 13,287 shares of the company’s stock worth $645,000 after acquiring an additional 1,700 shares in the last quarter. IFM Investors Pty Ltd bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $258,000. State of Alaska Department of Revenue increased its stake in shares of Live Nation Entertainment by 32.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 16,310 shares of the company’s stock worth $792,000 after acquiring an additional 3,980 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $1,564,000. 69.56% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 17th. ValuEngine lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, Guggenheim reiterated a “buy” rating and issued a $55.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Live Nation Entertainment has an average rating of “Buy” and a consensus target price of $56.79.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.72 billion. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities research analysts expect that Live Nation Entertainment, Inc. will post -0.03 earnings per share for the current year.
In other Live Nation Entertainment news, President Joe Berchtold sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $48.70, for a total transaction of $1,948,000.00. Following the completion of the sale, the president now directly owns 148,409 shares in the company, valued at approximately $7,227,518.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 7,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $54.07, for a total transaction of $378,490.00. Following the sale, the director now owns 17,508 shares of the company’s stock, valued at $946,657.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,000 shares of company stock valued at $9,218,490. 5.19% of the stock is owned by company insiders.
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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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