Fred Alger Management Inc. lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 49,024.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,706 shares of the company’s stock after purchasing an additional 100,501 shares during the period. Fred Alger Management Inc.’s holdings in Live Nation Entertainment were worth $3,510,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Chicago Equity Partners LLC acquired a new position in Live Nation Entertainment in the second quarter valued at $3,674,000. Schwab Charles Investment Management Inc. lifted its holdings in Live Nation Entertainment by 24.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock valued at $50,780,000 after buying an additional 287,319 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Live Nation Entertainment by 82.4% in the second quarter. BNP Paribas Arbitrage SA now owns 53,630 shares of the company’s stock valued at $1,869,000 after buying an additional 24,226 shares during the period. Vanguard Group Inc. lifted its holdings in Live Nation Entertainment by 5.2% in the first quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock valued at $316,303,000 after buying an additional 517,577 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Live Nation Entertainment by 23.5% in the second quarter. Russell Investments Group Ltd. now owns 105,071 shares of the company’s stock valued at $3,662,000 after buying an additional 20,007 shares during the period. Institutional investors own 65.64% of the company’s stock.

LYV has been the topic of several recent analyst reports. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Jefferies Group LLC boosted their target price on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 27th. BidaskClub lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. William Blair initiated coverage on shares of Live Nation Entertainment in a report on Friday, July 21st. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.67.

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Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 42.82 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $26.41 and a 1-year high of $43.86. The company has a market capitalization of $8.78 billion, a P/E ratio of 6117.14 and a beta of 1.03. The firm has a 50-day moving average of $41.31 and a 200 day moving average of $35.99.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the company posted $0.13 EPS. Live Nation Entertainment’s revenue was up 29.3% on a year-over-year basis. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post $0.22 earnings per share for the current year.

In related news, Director Ariel Emanuel sold 10,000 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the completion of the transaction, the director now directly owns 85,737 shares of the company’s stock, valued at approximately $3,563,229.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Capo sold 7,500 shares of Live Nation Entertainment stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the transaction, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The disclosure for this sale can be found here. Company insiders own 4.77% of the company’s stock.

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. 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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