Janus Capital Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, Holdings Channel reports. The firm acquired 26,000 shares of the company’s stock, valued at approximately $692,000.
Other large investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Live Nation Entertainment by 3.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 50,355 shares of the company’s stock worth $1,384,000 after buying an additional 1,588 shares in the last quarter. Creative Planning raised its stake in shares of Live Nation Entertainment by 6.1% in the third quarter. Creative Planning now owns 4,334 shares of the company’s stock worth $119,000 after buying an additional 249 shares in the last quarter. CrestPoint Capital Management LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $374,000. Bank of Montreal Can raised its stake in shares of Live Nation Entertainment by 46.6% in the third quarter. Bank of Montreal Can now owns 135,305 shares of the company’s stock worth $3,718,000 after buying an additional 43,026 shares in the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $237,000. 63.33% of the stock is currently owned by institutional investors.
Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 29.06 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $21.00 and a 52 week high of $30.79. The stock’s 50 day moving average price is $28.85 and its 200 day moving average price is $27.74. The stock’s market cap is $5.92 billion.
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LYV has been the topic of a number of analyst reports. Jefferies Group LLC lifted their price objective on Live Nation Entertainment from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 29th. Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, January 11th. Finally, Albert Fried & Company reaffirmed a “hold” rating on shares of Live Nation Entertainment in a report on Wednesday, January 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average price target of $31.88.
In other news, CEO Michael Rapino sold 140,000 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $27.55, for a total transaction of $3,857,000.00. Following the transaction, the chief executive officer now owns 766,196 shares of the company’s stock, valued at $21,108,699.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret L. Johnson sold 9,000 shares of the stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $28.63, for a total transaction of $257,670.00. The disclosure for this sale can be found here. Insiders have sold 989,000 shares of company stock worth $27,738,970 in the last ninety days. Corporate insiders own 4.16% of the company’s stock.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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