NorthCoast Asset Management LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,190 shares of the company’s stock, valued at approximately $704,000.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in Live Nation Entertainment by 122.2% during the 1st quarter. Russell Investments Group Ltd. now owns 85,064 shares of the company’s stock valued at $2,584,000 after purchasing an additional 46,787 shares during the period. Oregon Public Employees Retirement Fund increased its position in Live Nation Entertainment by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,241 shares of the company’s stock valued at $1,404,000 after purchasing an additional 600 shares during the period. Canada Pension Plan Investment Board increased its position in Live Nation Entertainment by 118.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 50,000 shares of the company’s stock valued at $1,519,000 after purchasing an additional 27,100 shares during the period. Great West Life Assurance Co. Can increased its position in Live Nation Entertainment by 3.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 78,889 shares of the company’s stock valued at $2,395,000 after purchasing an additional 2,837 shares during the period. Finally, State Treasurer State of Michigan increased its position in Live Nation Entertainment by 0.8% during the 1st quarter. State Treasurer State of Michigan now owns 53,700 shares of the company’s stock valued at $1,631,000 after purchasing an additional 400 shares during the period. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 41.16 on Tuesday. Live Nation Entertainment, Inc. has a 52-week low of $25.60 and a 52-week high of $42.20. The stock has a 50 day moving average of $38.64 and a 200-day moving average of $34.11. The stock has a market capitalization of $8.44 billion, a P/E ratio of 5880.00 and a beta of 1.01.

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 1.60% 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. Analysts predict that Live Nation Entertainment, Inc. will post $0.22 EPS for the current fiscal year.

LYV has been the topic of a number of research analyst reports. Jefferies Group LLC boosted their price objective on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. BidaskClub downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Guggenheim initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, May 24th. They set a “buy” rating and a $40.00 price objective on the stock. Citigroup Inc. reissued a “buy” rating and set a $39.00 price objective (up from $32.00) on shares of Live Nation Entertainment in a research report on Friday, May 19th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $39.71.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 6,337 shares of Live Nation Entertainment stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $35.82, for a total value of $226,991.34. Following the transaction, the director now owns 23,450 shares in the company, valued at $839,979. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.77% of the stock is owned by insiders.

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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.

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

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