Retirement Systems of Alabama lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,010 shares of the company’s stock after purchasing an additional 998 shares during the quarter. Retirement Systems of Alabama’s holdings in Live Nation Entertainment were worth $17,041,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Live Nation Entertainment by 6.0% during the third quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock worth $748,517,000 after purchasing an additional 778,092 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Live Nation Entertainment by 2.6% during the third quarter. William Blair Investment Management LLC now owns 6,744,057 shares of the company’s stock worth $367,349,000 after purchasing an additional 172,428 shares during the period. Select Equity Group L.P. increased its holdings in shares of Live Nation Entertainment by 50.6% during the third quarter. Select Equity Group L.P. now owns 6,720,593 shares of the company’s stock worth $366,071,000 after purchasing an additional 2,258,400 shares during the period. Findlay Park Partners LLP bought a new position in shares of Live Nation Entertainment during the third quarter worth approximately $176,436,000. Finally, Putnam Investments LLC increased its holdings in shares of Live Nation Entertainment by 3.9% during the third quarter. Putnam Investments LLC now owns 3,199,691 shares of the company’s stock worth $174,287,000 after purchasing an additional 118,989 shares during the period. 68.63% of the stock is currently owned by institutional investors.
In other Live Nation Entertainment news, EVP Michael Rowles sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $56.47, for a total value of $1,411,750.00. Following the sale, the executive vice president now owns 191,237 shares in the company, valued at $10,799,153.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Rapino sold 85,000 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $49.40, for a total transaction of $4,199,000.00. Following the completion of the sale, the chief executive officer now owns 1,052,030 shares in the company, valued at approximately $51,970,282. The disclosure for this sale can be found here. Insiders have sold a total of 280,000 shares of company stock worth $14,148,150 in the last quarter. 5.19% of the stock is currently owned by company insiders.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.72 billion. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. On average, analysts expect that Live Nation Entertainment, Inc. will post -0.02 earnings per share for the current year.
Several research analysts have recently commented on LYV shares. ValuEngine raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Friday, October 12th. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Finally, Macquarie reaffirmed a “buy” rating and set a $60.00 target price on shares of Live Nation Entertainment in a report on Thursday, November 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $57.35.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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