Parallel Advisors LLC cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,278 shares of the company’s stock after selling 1,617 shares during the quarter. Parallel Advisors LLC’s holdings in Live Nation Entertainment were worth $495,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in shares of Live Nation Entertainment by 21.8% during the second quarter. Federated Hermes Inc. now owns 218,082 shares of the company’s stock worth $20,443,000 after buying an additional 39,071 shares during the last quarter. Brasada Capital Management LP lifted its holdings in shares of Live Nation Entertainment by 2.0% during the second quarter. Brasada Capital Management LP now owns 29,277 shares of the company’s stock worth $2,807,000 after buying an additional 575 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Live Nation Entertainment by 8.8% during the second quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock worth $1,577,000 after buying an additional 1,357 shares during the last quarter. Royal London Asset Management Ltd. increased its position in shares of Live Nation Entertainment by 85.3% during the second quarter. Royal London Asset Management Ltd. now owns 126,302 shares of the company’s stock valued at $11,840,000 after purchasing an additional 58,140 shares during the period. Finally, Choreo LLC bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $300,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Live Nation Entertainment Price Performance
Shares of LYV stock opened at $102.92 on Wednesday. The stock’s fifty day moving average is $95.03 and its 200-day moving average is $95.97. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $23.65 billion, a PE ratio of 98.02, a PEG ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24.
Insider Transactions at Live Nation Entertainment
In other news, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.85% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on LYV. Macquarie restated an “outperform” rating and set a $125.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Oppenheimer boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.46.
Read Our Latest Analysis on LYV
About Live Nation Entertainment
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.
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