Cornerstone Capital Management Holdings LLC. reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 554,262 shares of the company’s stock after selling 36,468 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.27% of Live Nation Entertainment worth $19,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Equity Partners LLC bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth $3,674,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Live Nation Entertainment by 24.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock worth $50,780,000 after buying an additional 287,319 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Live Nation Entertainment by 82.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 53,630 shares of the company’s stock worth $1,869,000 after buying an additional 24,226 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Live Nation Entertainment by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock worth $316,303,000 after buying an additional 517,577 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Live Nation Entertainment by 23.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 105,071 shares of the company’s stock worth $3,662,000 after buying an additional 20,007 shares during the period. 65.64% of the stock is owned by institutional investors and hedge funds.

In other Live Nation Entertainment news, insider Brian Capo sold 7,500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.50, for a total transaction of $303,750.00. Following the completion of the transaction, the insider now owns 13,354 shares of the company’s stock, valued at $540,837. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ariel Emanuel sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $41.56, for a total value of $415,600.00. Following the transaction, the director now directly owns 85,737 shares of the company’s stock, valued at approximately $3,563,229.72. The disclosure for this sale can be found here. 4.77% of the stock is owned by insiders.

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Several equities analysts recently commented on LYV shares. Jefferies Group LLC reiterated a “buy” rating and set a $42.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 12th. Zacks Investment Research cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. William Blair started coverage on shares of Live Nation Entertainment in a research note on Friday, July 21st. They set an “outperform” rating for the company. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $39.67.

Shares of Live Nation Entertainment, Inc. (NYSE LYV) traded down 0.14% during trading on Friday, hitting $42.82. 1,261,172 shares of the stock were exchanged. The firm’s 50-day moving average is $41.31 and its 200 day moving average is $35.99. The company has a market cap of $8.78 billion, a P/E ratio of 6117.14 and a beta of 1.03. Live Nation Entertainment, Inc. has a 1-year low of $26.41 and a 1-year high of $43.86.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. Live Nation Entertainment’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Equities analysts forecast that Live Nation Entertainment, Inc. will post $0.22 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

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.

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

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