Nisa Investment Advisors LLC Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)
Nisa Investment Advisors LLC lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 11.0% during the second quarter, Holdings Channel reports. The firm owned 12,100 shares of the company’s stock after selling 1,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Live Nation Entertainment were worth $422,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. PICTET BANK & TRUST Ltd acquired a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $225,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $233,000. KBC Group NV acquired a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $238,000. World Asset Management Inc boosted its stake in shares of Live Nation Entertainment by 9.7% in the first quarter. World Asset Management Inc now owns 8,844 shares of the company’s stock worth $269,000 after buying an additional 783 shares during the period. Finally, Timber Hill LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $286,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.
Shares of Live Nation Entertainment, Inc. (NYSE LYV) traded down 1.26% during trading on Friday, reaching $39.11. 2,711,210 shares of the company were exchanged. The firm’s 50 day moving average is $36.02 and its 200 day moving average is $32.48. The firm has a market capitalization of $8.06 billion, a P/E ratio of 9777.50 and a beta of 1.00. Live Nation Entertainment, Inc. has a 1-year low of $25.56 and a 1-year high of $42.20.
Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.61% and a net margin of 0.25%. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post $0.19 EPS for the current fiscal year.
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A number of analysts have recently commented on the stock. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a report on Friday. Stephens restated an “overweight” rating and set a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday. Zacks Investment Research cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday. Jefferies Group LLC restated a “buy” rating and set a $33.00 target price on shares of Live Nation Entertainment in a report on Monday, April 24th. Finally, William Blair started coverage on shares of Live Nation Entertainment in a research note on Friday, July 21st. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.75.
In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total value of $697,200.00. Following the transaction, the chief financial officer now owns 286,216 shares in the company, valued at $9,977,489.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Ted Enloe III sold 6,337 shares of Live Nation Entertainment stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $35.82, for a total value of $226,991.34. Following the completion of the transaction, the director now owns 23,450 shares in the company, valued at approximately $839,979. The disclosure for this sale can be found here. 4.77% of the stock is owned by insiders.
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.
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