Valueworks LLC lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 164,431 shares of the company’s stock after selling 15,156 shares during the period. Live Nation Entertainment comprises about 4.3% of Valueworks LLC’s portfolio, making the stock its 9th biggest position. Valueworks LLC owned 0.08% of Live Nation Entertainment worth $5,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Live Nation Entertainment by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after purchasing an additional 445 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at about $210,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at about $233,000. KBC Group NV acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at about $238,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at about $261,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Live Nation Entertainment, Inc. (LYV) traded down 0.14% on Friday, reaching $42.82. The company had a trading volume of 1,261,172 shares. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 6117.14 and a beta of 1.03. Live Nation Entertainment, Inc. has a one year low of $26.41 and a one year high of $43.86. The company’s 50 day moving average is $41.31 and its 200-day moving average is $35.99.

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

A number of research analysts have recently issued reports on LYV shares. Jefferies Group LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 12th. Zacks Investment Research downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. William Blair started coverage on Live Nation Entertainment in a research note on Friday, July 21st. They issued an “outperform” rating on the stock. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.67.

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In other news, Director Ariel Emanuel sold 10,000 shares of Live Nation Entertainment stock in a transaction that occurred on 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 in the company, valued at $3,563,229.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Capo sold 7,500 shares of Live Nation Entertainment stock in a transaction that occurred on 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 owns 13,354 shares of the company’s stock, valued at $540,837. The disclosure for this sale can be found here. 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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