Premier Fund Managers Ltd Acquires 51,600 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Premier Fund Managers Ltd increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 10.6% during the third quarter, Holdings Channel reports. The institutional investor owned 537,000 shares of the company’s stock after purchasing an additional 51,600 shares during the period. Live Nation Entertainment comprises about 1.6% of Premier Fund Managers Ltd’s portfolio, making the stock its 10th largest holding. Premier Fund Managers Ltd’s holdings in Live Nation Entertainment were worth $49,106,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth $1,505,000. Handelsbanken Fonder AB raised its holdings in shares of Live Nation Entertainment by 4.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 150,100 shares of the company’s stock valued at $13,679,000 after acquiring an additional 7,000 shares in the last quarter. Forsta AP Fonden raised its holdings in shares of Live Nation Entertainment by 103.5% in the 3rd quarter. Forsta AP Fonden now owns 93,600 shares of the company’s stock valued at $8,530,000 after acquiring an additional 47,600 shares in the last quarter. NN Investment Partners Holdings N.V. raised its holdings in shares of Live Nation Entertainment by 1.5% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 154,017 shares of the company’s stock valued at $14,034,000 after buying an additional 2,293 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its position in Live Nation Entertainment by 68.5% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 337 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of LYV traded down $0.27 during mid-day trading on Friday, hitting $113.60. 28,775 shares of the company’s stock were exchanged, compared to its average volume of 2,185,240. Live Nation Entertainment, Inc. has a 52 week low of $65.88 and a 52 week high of $127.75. The stock’s 50-day simple moving average is $113.13 and its 200-day simple moving average is $97.29.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.37. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the business posted ($2.45) earnings per share. The firm’s quarterly revenue was up 1366.6% compared to the same quarter last year. Equities research analysts predict that Live Nation Entertainment, Inc. will post -2.75 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $92.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, November 1st. Citigroup raised their price target on Live Nation Entertainment from $98.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, November 11th. Jefferies Financial Group raised their price target on Live Nation Entertainment from $103.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, November 5th. Morgan Stanley lifted their target price on Live Nation Entertainment from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 15th. Finally, TheStreet upgraded Live Nation Entertainment from a “d+” rating to a “c” rating in a research report on Thursday, November 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Buy” and a consensus price target of $114.57.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising and Ticketing. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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