Public Employees Retirement System of Ohio lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 24.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,362 shares of the company’s stock after selling 23,317 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Live Nation Entertainment were worth $4,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LYV. Clearbridge Investments LLC boosted its holdings in shares of Live Nation Entertainment by 3.7% during the first 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 during the period. Cleararc Capital Inc. bought a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $226,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Live Nation Entertainment by 2.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 179,985 shares of the company’s stock valued at $11,436,000 after buying an additional 3,542 shares during the period. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Live Nation Entertainment by 3.5% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 122,842 shares of the company’s stock valued at $8,138,000 after buying an additional 4,150 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Live Nation Entertainment by 10.7% in the second quarter. Envestnet Asset Management Inc. now owns 64,725 shares of the company’s stock valued at $4,288,000 after buying an additional 6,245 shares during the period. 69.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LYV stock traded up $0.41 during trading on Friday, hitting $71.04. The company had a trading volume of 212,367 shares, compared to its average volume of 782,778. The stock’s 50-day moving average price is $70.80 and its 200 day moving average price is $66.02. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.93 and a current ratio of 0.93. Live Nation Entertainment, Inc. has a one year low of $46.02 and a one year high of $73.71. The firm has a market capitalization of $14.66 billion, a P/E ratio of -789.33 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 25th. The company reported $0.41 earnings per share for the quarter, topping the 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 firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 0.3 earnings per share for the current fiscal year.

In other Live Nation Entertainment news, EVP Michael Rowles sold 67,840 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.82% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on the company. Citigroup cut Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price target for the company. in a research note on Friday, June 28th. Guggenheim set a $80.00 price target on Live Nation Entertainment and gave the company a “buy” rating in a research note on Thursday, August 29th. Zacks Investment Research cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Atlantic Securities assumed coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.00.

Live Nation Entertainment Company 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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