Shapiro Capital Management LLC Sells 1,500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Shapiro Capital Management LLC cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 31.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,300 shares of the company’s stock after selling 1,500 shares during the quarter. Shapiro Capital Management LLC’s holdings in Live Nation Entertainment were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LYV. YHB Investment Advisors Inc. bought a new stake in Live Nation Entertainment during the 1st quarter valued at approximately $32,000. Rise Advisors LLC lifted its position in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after acquiring an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings 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. Lindbrook Capital LLC increased its position in shares of 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 purchasing an additional 119 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 1.0 %

Shares of LYV opened at $104.64 on Tuesday. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 99.66, 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. 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 business’s fifty day moving average price is $95.76 and its two-hundred day moving average price is $96.14.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business’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 earnings per share. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Insider Buying and Selling 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 value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LYV shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Macquarie restated an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Oppenheimer upped their price target 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.