Aviva PLC Lowers Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Aviva PLC cut its stake in Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) by 97.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,045 shares of the company’s stock after selling 3,959,452 shares during the period. Aviva PLC owned 0.05% of Live Nation Entertainment worth $14,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LYV. Select Equity Group L.P. lifted its holdings in shares of Live Nation Entertainment by 132.6% during the fourth quarter. Select Equity Group L.P. now owns 6,224,219 shares of the company’s stock valued at $744,977,000 after purchasing an additional 3,547,743 shares during the last quarter. Candlestick Capital Management LP purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $74,431,000. Ardevora Asset Management LLP purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $58,796,000. Scout Investments Inc. lifted its holdings in shares of Live Nation Entertainment by 145.5% during the first quarter. Scout Investments Inc. now owns 836,671 shares of the company’s stock valued at $98,426,000 after purchasing an additional 495,802 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $44,828,000. 71.08% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.5 %

Shares of LYV stock opened at $90.73 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $79.50 and a 1 year high of $127.75. The firm has a fifty day moving average price of $91.38 and a 200-day moving average price of $98.29. The company has a debt-to-equity ratio of 146.87, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $20.87 billion, a price-to-earnings ratio of -181.46 and a beta of 1.32.

Live Nation Entertainment (NYSE:LYVGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned ($0.90) EPS. The company’s revenue was up 669.9% on a year-over-year basis. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 0.4 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $99.42, for a total transaction of $49,710.00. Following the transaction, the director now owns 60,531 shares in the company, valued at approximately $6,017,992.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LYV shares. Morgan Stanley reduced their price target on shares of Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, June 2nd. Benchmark raised their price target on shares of Live Nation Entertainment to $140.00 in a research report on Monday, August 15th. Wolfe Research reduced their price target on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating for the company in a research report on Thursday, June 2nd. TheStreet raised shares of Live Nation Entertainment from a “d+” rating to a “c-” rating in a research report on Wednesday, August 10th. Finally, Citigroup raised their price target on shares of Live Nation Entertainment from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.10.

Live Nation Entertainment Profile

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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

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