Employees Retirement System of Texas decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 18.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,000 shares of the company’s stock after selling 20,000 shares during the period. Employees Retirement System of Texas’ holdings in Live Nation Entertainment were worth $3,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Live Nation Entertainment by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock worth $185,000 after buying an additional 445 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in Live Nation Entertainment during the second quarter worth $210,000. Montag A & Associates Inc. acquired a new position in Live Nation Entertainment during the second quarter worth $261,000. Oppenheimer Asset Management Inc. acquired a new position in Live Nation Entertainment during the first quarter worth $233,000. Finally, KBC Group NV acquired a new position in Live Nation Entertainment during the first quarter worth $238,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.

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Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 42.82 on Monday. Live Nation Entertainment, Inc. has a one year low of $26.41 and a one year high of $43.85. The stock has a 50 day moving average of $41.31 and a 200 day moving average of $35.99. The stock has a market cap of $8.78 billion, a P/E ratio of 6117.14 and a beta of 1.03.

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

Several research firms have weighed in on LYV. Stephens restated an “overweight” rating and set a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. BidaskClub upgraded shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a report on Friday, August 11th. Northcoast Research downgraded 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. Finally, William Blair began coverage on shares of Live Nation Entertainment in a report on Friday, July 21st. They set an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average price target of $39.67.

In related news, insider Brian Capo sold 7,500 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the transaction, the insider now owns 13,354 shares in the company, valued at approximately $540,837. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ariel Emanuel sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was 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 owns 85,737 shares in the company, valued at approximately $3,563,229.72. The disclosure for this sale can be found here. Insiders own 4.77% of the company’s stock.

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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