Parallel Advisors LLC Has $495,000 Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Parallel Advisors LLC cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) 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.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 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 the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

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.

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.