Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% during the 2nd quarter, Holdings Channel reports. The fund owned 139,287 shares of the company’s stock after selling 941 shares during the quarter. New York State Teachers Retirement System’s holdings in Live Nation Entertainment were worth $13,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in shares of Live Nation Entertainment during the first quarter worth about $32,000. Rise Advisors LLC increased its position in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Live Nation Entertainment by 44.1% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Live Nation Entertainment by 238.1% during the first quarter. SOA Wealth Advisors LLC. now owns 852 shares of the company’s stock worth $90,000 after purchasing an additional 600 shares in the last quarter. Finally, Western Pacific Wealth Management LP increased its holdings in Live Nation Entertainment by 15.8% in the fourth quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock valued at $92,000 after buying an additional 134 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on LYV. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Roth Mkm reiterated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Benchmark reiterated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Finally, Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.17.

Live Nation Entertainment Stock Up 0.9 %

Shares of NYSE:LYV opened at $96.78 on Friday. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 92.17, a PEG ratio of 2.18 and a beta of 1.34. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The firm’s 50-day simple moving average is $93.82 and its 200-day simple moving average is $95.37. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The sale was disclosed in a filing with the SEC, which is available at this link. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the transaction, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,201 shares of company stock valued at $788,464. Corporate insiders own 2.85% of the company’s stock.

Live Nation Entertainment Company Profile

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