Bank of Hawaii Increases Position in Live Nation Entertainment, Inc. (LYV)

Bank of Hawaii boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 91.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,130 shares of the company’s stock after buying an additional 6,265 shares during the period. Bank of Hawaii’s holdings in Live Nation Entertainment were worth $715,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LYV. Select Equity Group L.P. bought a new position in Live Nation Entertainment during the second quarter valued at approximately $216,729,000. Findlay Park Partners LLP bought a new position in Live Nation Entertainment during the third quarter valued at approximately $176,436,000. Canada Pension Plan Investment Board boosted its stake in 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 buying an additional 2,096,500 shares during the last quarter. BlackRock Inc. boosted its stake in Live Nation Entertainment by 6.0% during the third quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock valued at $748,517,000 after buying an additional 778,092 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in Live Nation Entertainment by 71.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 739,054 shares of the company’s stock valued at $35,896,000 after buying an additional 309,097 shares during the last quarter. 69.34% of the stock is owned by institutional investors.

Shares of LYV stock opened at $53.36 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $35.94 and a 1 year high of $58.26. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.76. The company has a market cap of $11.04 billion, a price-to-earnings ratio of -111.17 and a beta of 0.99.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post -0.03 earnings per share for the current fiscal year.

In other news, EVP Michael Rowles sold 25,000 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $56.47, for a total value of $1,411,750.00. Following the sale, the executive vice president now directly owns 191,237 shares in the company, valued at $10,799,153.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Ted Enloe III sold 7,000 shares of the 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 owns 17,508 shares in the company, valued at $946,657.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,000 shares of company stock worth $4,752,040. Company insiders own 5.19% of the company’s stock.

A number of equities analysts recently commented on LYV shares. Stephens set a $60.00 price target on Live Nation Entertainment and gave the company a “buy” rating in a research note on Friday, July 27th. They noted that the move was a valuation call. Macquarie reissued a “buy” rating and set a $60.00 price target on shares of Live Nation Entertainment in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. ValuEngine raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 12th. Finally, Jefferies Financial Group increased their price target on Live Nation Entertainment from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.35.

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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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