Kalmar Investments Inc. DE lowered its stake in shares of Live Nation Entertainment Inc. (NYSE:LYV) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,499,624 shares of the company’s stock after selling 70,419 shares during the period. Live Nation Entertainment makes up 1.6% of Kalmar Investments Inc. DE’s holdings, making the stock its 14th largest position. Kalmar Investments Inc. DE owned 0.74% of Live Nation Entertainment worth $35,241,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Sentry Investments Corp. bought a new position in Live Nation Entertainment during the first quarter valued at approximately $24,809,000. Renaissance Technologies LLC raised its position in Live Nation Entertainment by 41.0% in the first quarter. Renaissance Technologies LLC now owns 2,725,166 shares of the company’s stock valued at $60,798,000 after buying an additional 792,000 shares during the period. Nordea Investment Management AB bought a new position in Live Nation Entertainment during the second quarter valued at approximately $10,243,000. Harbor Spring Capital LLC raised its position in Live Nation Entertainment by 21.7% in the first quarter. Harbor Spring Capital LLC now owns 1,400,000 shares of the company’s stock valued at $31,234,000 after buying an additional 250,000 shares during the period. Finally, BB&T Securities LLC raised its position in Live Nation Entertainment by 27.1% in the first quarter. BB&T Securities LLC now owns 878,208 shares of the company’s stock valued at $19,592,000 after buying an additional 187,344 shares during the period. 64.01% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment Inc. (NYSE:LYV) traded up 1.08% during midday trading on Tuesday, reaching $27.21. The company’s stock had a trading volume of 839,108 shares. Live Nation Entertainment Inc. has a 52-week low of $18.77 and a 52-week high of $29.68. The stock’s market capitalization is $5.50 billion. The firm has a 50-day moving average price of $27.01 and a 200 day moving average price of $24.70.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The firm earned $2.20 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Live Nation Entertainment had a net margin of 0.05% and a return on equity of 0.27%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. Equities research analysts predict that Live Nation Entertainment Inc. will post ($0.10) EPS for the current fiscal year.

LYV has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on Live Nation Entertainment in a report on Thursday, August 18th. They set an “overweight” rating and a $34.00 target price for the company. Jefferies Group reissued a “buy” rating and issued a $31.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 29th. Stephens started coverage on Live Nation Entertainment in a report on Thursday, October 6th. They issued an “equal weight” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Albert Fried & Company reissued a “buy” rating and issued a $34.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, July 26th. Finally, Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Wednesday, October 12th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.38.

About Live Nation Entertainment

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, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.

5 Day Chart for NYSE:LYV

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