National Pension Service Sells 7,116 Shares of Live Nation Entertainment, Inc. $LYV

National Pension Service trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 296,881 shares of the company’s stock after selling 7,116 shares during the period. National Pension Service’s holdings in Live Nation Entertainment were worth $54,362,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Empowered Funds LLC increased its holdings in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after buying an additional 547 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares during the period. Cerity Partners LLC boosted its holdings in shares of Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Live Nation Entertainment by 344.3% during the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.0%

Shares of LYV opened at $170.14 on Friday. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The stock has a market capitalization of $40.09 billion, a price-to-earnings ratio of -150.57 and a beta of 1.11. The stock has a 50 day moving average price of $180.34 and a 200 day moving average price of $169.07. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Susquehanna raised their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Citigroup raised their price target on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Citizens Jmp boosted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Insider Activity

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment’s live entertainment business and Live Nation.