Pinebridge Investments L.P. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,437 shares of the company’s stock, valued at approximately $368,000.

Other institutional investors also recently made changes to their positions in the company. IHT Wealth Management LLC raised its position in shares of Live Nation Entertainment by 58.5% during the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock worth $280,000 after purchasing an additional 950 shares during the period. Assetmark Inc. acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $134,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $167,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 purchasing an additional 445 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $286,000. 68.09% of the stock is currently owned by institutional investors.

Live Nation Entertainment, Inc. (LYV) traded up $0.24 during trading hours on Tuesday, reaching $43.59. The company had a trading volume of 1,487,300 shares, compared to its average volume of 1,450,765. The firm has a market capitalization of $8,964.78, a price-to-earnings ratio of 2,167.50 and a beta of 1.05. Live Nation Entertainment, Inc. has a 52-week low of $26.41 and a 52-week high of $46.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current year.

In other Live Nation Entertainment news, COO Joe Berchtold sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $46.55, for a total value of $931,000.00. Following the transaction, the chief operating officer now owns 77,918 shares in the company, valued at $3,627,082.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ariel Emanuel sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $41.56, for a total value 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 sold 1,116,511 shares of company stock worth $49,883,352 in the last 90 days. Corporate insiders own 4.77% of the company’s stock.

Several research analysts recently weighed in on the company. Jefferies Group upped their price target on Live Nation Entertainment from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Macquarie reissued a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Zacks Investment Research lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $42.86.

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Live Nation Entertainment Company 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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