Prudential Financial Inc. lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 49.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,209 shares of the company’s stock after purchasing an additional 45,000 shares during the quarter. Prudential Financial Inc. owned about 0.07% of Live Nation Entertainment worth $5,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC boosted its position in shares of Live Nation Entertainment by 87.3% during the third quarter. Chicago Equity Partners LLC now owns 197,455 shares of the company’s stock valued at $8,599,000 after purchasing an additional 92,035 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Live Nation Entertainment by 1.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 161,708 shares of the company’s stock valued at $7,042,000 after purchasing an additional 1,560 shares in the last quarter. Boston Financial Mangement LLC boosted its position in shares of Live Nation Entertainment by 5.9% during the third quarter. Boston Financial Mangement LLC now owns 323,515 shares of the company’s stock valued at $14,089,000 after purchasing an additional 17,939 shares in the last quarter. ARP Americas LLC bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $322,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Live Nation Entertainment by 8,038.5% during the third quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock valued at $252,002,000 after purchasing an additional 5,715,400 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.

In other news, CEO Michael Rapino sold 70,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $45.46, for a total value of $3,182,200.00. Following the completion of the transaction, the chief executive officer now owns 395,277 shares in the company, valued at $17,969,292.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joe Berchtold sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $45.50, for a total value of $910,000.00. Following the completion of the transaction, the chief operating officer now owns 97,918 shares of the company’s stock, valued at approximately $4,455,269. The disclosure for this sale can be found here. Insiders have sold 524,011 shares of company stock valued at $23,506,002 in the last quarter. 4.77% of the stock is owned by company insiders.

Shares of Live Nation Entertainment, Inc. (LYV) traded up $0.84 during trading hours on Monday, reaching $45.26. The company’s stock had a trading volume of 938,300 shares, compared to its average volume of 1,388,262. The stock has a market capitalization of $9,360.00, a PE ratio of 2,263.00 and a beta of 1.06. Live Nation Entertainment, Inc. has a 1-year low of $26.41 and a 1-year high of $46.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.18 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 12th. Macquarie reiterated a “buy” rating and set a $48.00 price objective on shares of Live Nation Entertainment in a research note on Sunday, November 5th. Zacks Investment Research cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Stephens reiterated an “overweight” rating and set a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.86.

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Live Nation Entertainment 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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