Russell Investments Group Ltd. lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 29.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,062 shares of the company’s stock after selling 18,352 shares during the quarter. Russell Investments Group Ltd.’s holdings in Live Nation Entertainment were worth $2,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LYV. Geode Capital Management LLC boosted its position in shares of Live Nation Entertainment by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 1,398,275 shares of the company’s stock valued at $68,818,000 after acquiring an additional 183,255 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter valued at about $332,000. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Live Nation Entertainment by 3.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 13,730 shares of the company’s stock valued at $872,000 after buying an additional 520 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Live Nation Entertainment by 33.3% during the 1st quarter. Toronto Dominion Bank now owns 26,414 shares of the company’s stock valued at $1,678,000 after buying an additional 6,597 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Live Nation Entertainment by 14.3% during the 1st quarter. CIBC Asset Management Inc now owns 8,358 shares of the company’s stock valued at $531,000 after buying an additional 1,044 shares in the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Live Nation Entertainment stock traded up $1.10 during trading hours on Tuesday, reaching $70.33. The company had a trading volume of 11,267 shares, compared to its average volume of 831,387. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.93 and a quick ratio of 0.93. Live Nation Entertainment, Inc. has a 12-month low of $46.02 and a 12-month high of $73.71. The firm has a market cap of $15.01 billion, a price-to-earnings ratio of -780.39 and a beta of 1.17. The company has a 50-day moving average price of $70.59 and a 200 day moving average price of $66.28.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 0.3 earnings per share for the current year.

In other news, EVP Michael Rowles sold 67,840 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total transaction of $4,864,806.40. Following the transaction, the executive vice president now directly owns 257,691 shares of the company’s stock, valued at $18,479,021.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.82% of the stock is currently owned by insiders.

A number of equities analysts have commented on the company. Atlantic Securities assumed coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 price target on the stock. Guggenheim set a $80.00 price target on Live Nation Entertainment and gave the stock a “buy” rating in a research note on Thursday, August 29th. Zacks Investment Research cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Citigroup cut Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price target on the stock. in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $70.00.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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

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