Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 242,589 shares of the company’s stock after selling 505 shares during the period. Public Employees Retirement Association of Colorado owned about 0.11% of Live Nation Entertainment worth $22,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new stake in Live Nation Entertainment in the 1st quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Rise Advisors LLC raised its position in shares of Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the last quarter. Lindbrook Capital LLC lifted its stake in 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 buying an additional 119 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Live Nation Entertainment by 67.4% during the 2nd 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. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America began coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Roth Mkm restated a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Friday, May 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Macquarie reiterated an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $103.64 on Friday. The company’s fifty day simple moving average is $95.53 and its 200-day simple moving average is $96.12. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24. The company has a market cap of $23.81 billion, a PE 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 the consensus estimate of $1.06 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Insider Activity

In other news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $164,248.56. Following the sale, the director now owns 15,128 shares of the company’s stock, valued at $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 over the last 90 days. Company insiders own 2.85% of the company’s stock.

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.