California Public Employees Retirement System increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 24.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,841 shares of the company’s stock after acquiring an additional 58,400 shares during the period. California Public Employees Retirement System’s holdings in Live Nation Entertainment were worth $19,958,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LYV. Nuveen Asset Management LLC bought a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $36,074,000. Vanguard Group Inc. boosted its holdings in shares of Live Nation Entertainment by 2.1% in the second quarter. Vanguard Group Inc. now owns 12,451,018 shares of the company’s stock valued at $824,880,000 after acquiring an additional 254,042 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Live Nation Entertainment by 23.5% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,042,558 shares of the company’s stock valued at $69,069,000 after acquiring an additional 198,558 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Live Nation Entertainment by 63.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 464,181 shares of the company’s stock valued at $30,752,000 after acquiring an additional 179,838 shares in the last quarter. Finally, Axiom International Investors LLC DE boosted its holdings in shares of Live Nation Entertainment by 26.6% in the second quarter. Axiom International Investors LLC DE now owns 777,590 shares of the company’s stock valued at $51,515,000 after acquiring an additional 163,280 shares in the last quarter. Institutional investors and hedge funds own 68.99% of the company’s stock.

In related news, EVP Michael Rowles sold 67,840 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $71.71, for a total transaction of $4,864,806.40. Following the completion of the sale, the executive vice president now directly owns 257,691 shares in the company, valued at $18,479,021.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James S. Kahan bought 4,500 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $61.54 per share, with a total value of $276,930.00. Following the completion of the acquisition, the director now directly owns 82,821 shares of the company’s stock, valued at approximately $5,096,804.34. The disclosure for this purchase can be found here. Company insiders own 4.82% of the company’s stock.

Shares of NYSE:LYV opened at $63.16 on Friday. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of -701.78 and a beta of 1.19. Live Nation Entertainment, Inc. has a 1-year low of $46.02 and a 1-year high of $73.71. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $67.27 and a 200 day moving average price of $67.45.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, October 31st. The company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $4.07 billion. Live Nation Entertainment had a return on equity of 4.96% and a net margin of 0.61%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.15 EPS for the current fiscal year.

Several research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Live Nation Entertainment in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $75.00 price objective for the company. Jefferies Financial Group set a $84.00 price objective on shares of Live Nation Entertainment and gave the company a “buy” rating in a report on Friday, October 25th. ValuEngine upgraded shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Zacks Investment Research cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Guggenheim set a $84.00 target price on shares of Live Nation Entertainment and gave the stock a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Live Nation Entertainment presently has a consensus rating of “Buy” and an average target price of $73.33.

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 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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