Elo Mutual Pension Insurance Co Sells 2,489 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Elo Mutual Pension Insurance Co decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 16.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,243 shares of the company’s stock after selling 2,489 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Live Nation Entertainment were worth $1,148,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment during the first quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Rise Advisors LLC increased its holdings in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after buying an additional 119 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment 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 completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 in the last three months. Corporate insiders own 2.85% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $103.64 on Friday. 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 firm has a fifty day moving average price of $95.53 and a 200 day moving average price of $96.12. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 98.70, a P/E/G ratio of 2.29 and a beta of 1.34.

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

Analyst Ratings Changes

A number of analysts have commented on LYV shares. Bank of America started coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Oppenheimer upped their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment 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.