Stephens Investment Management Group LLC lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 869,912 shares of the company’s stock after purchasing an additional 7,401 shares during the quarter. Live Nation Entertainment comprises 1.1% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 21st largest position. Stephens Investment Management Group LLC’s holdings in Live Nation Entertainment were worth $57,632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Findlay Park Partners LLP raised its position in shares of Live Nation Entertainment by 10.8% in the 1st quarter. Findlay Park Partners LLP now owns 5,627,885 shares of the company’s stock worth $357,596,000 after acquiring an additional 550,000 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,162,149 shares of the company’s stock worth $200,923,000 after acquiring an additional 112,797 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Live Nation Entertainment by 123.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,884,233 shares of the company’s stock worth $119,724,000 after acquiring an additional 1,039,685 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Live Nation Entertainment by 28.3% in the 1st quarter. CIBC Private Wealth Group LLC now owns 1,655,096 shares of the company’s stock worth $105,165,000 after acquiring an additional 365,288 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 15.1% in the 4th quarter. Geode Capital Management LLC now owns 1,398,275 shares of the company’s stock worth $68,818,000 after acquiring an additional 183,255 shares in the last quarter. 69.59% of the stock is owned by hedge funds and other institutional investors.

NYSE:LYV traded up $0.37 during mid-day trading on Thursday, hitting $69.43. 11,820 shares of the company’s stock traded hands, compared to its average volume of 1,001,661. The stock has a fifty day moving average of $70.14. Live Nation Entertainment, Inc. has a twelve month low of $46.02 and a twelve month high of $73.71. The company has a market cap of $14.72 billion, a P/E ratio of -762.28 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.73.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts expect that Live Nation Entertainment, Inc. will post 0.28 earnings per share for the current year.

Several research analysts recently issued reports on LYV shares. ValuEngine raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Atlantic Securities started coverage on Live Nation Entertainment in a research report on Tuesday, June 11th. They set an “overweight” rating and a $75.00 target price on the stock. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Citigroup lowered Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 target price on the stock. in a research report on Friday, June 28th. Finally, Berenberg Bank started coverage on Live Nation Entertainment in a research report on Tuesday, May 14th. They set a “buy” rating and a $73.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.57.

In other Live Nation Entertainment news, EVP Michael Rowles sold 67,840 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.14, for a total transaction of $4,283,417.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Ted Enloe III sold 5,447 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $62.45, for a total value of $340,165.15. Following the sale, the director now owns 67,886 shares in the company, valued at approximately $4,239,480.70. The disclosure for this sale can be found here. 4.82% of the stock is currently owned by insiders.

Live Nation Entertainment Profile

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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