Natixis Advisors L.P. lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 23.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,406 shares of the company’s stock after selling 20,873 shares during the quarter. Natixis Advisors L.P.’s holdings in Live Nation Entertainment were worth $4,466,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in LYV. Pictet Asset Management Ltd. raised its position in Live Nation Entertainment by 1,249.7% in the first quarter. Pictet Asset Management Ltd. now owns 402,210 shares of the company’s stock valued at $25,556,000 after purchasing an additional 372,411 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Live Nation Entertainment by 28.3% in the first quarter. CIBC Private Wealth Group LLC now owns 1,655,096 shares of the company’s stock valued at $105,165,000 after acquiring an additional 365,288 shares during the period. Federated Investors Inc. PA boosted its position in shares of Live Nation Entertainment by 29.9% during the first quarter. Federated Investors Inc. PA now owns 1,058,246 shares of the company’s stock valued at $67,241,000 after buying an additional 243,742 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Live Nation Entertainment by 15.1% during the fourth quarter. Geode Capital Management LLC now owns 1,398,275 shares of the company’s stock valued at $68,818,000 after buying an additional 183,255 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Live Nation Entertainment by 63.2% during the second quarter. Kornitzer Capital Management Inc. KS now owns 464,181 shares of the company’s stock valued at $30,752,000 after buying an additional 179,838 shares during the last quarter. 69.42% of the stock is owned by hedge funds and other institutional investors.
LYV has been the topic of several research reports. Atlantic Securities began coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 target price on the stock. Guggenheim set a $80.00 target price on Live Nation Entertainment and gave the stock a “buy” rating in a research report on Thursday, August 29th. Citigroup cut Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price objective for the company. in a report on Friday, June 28th. Finally, Zacks Investment Research cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average target price of $70.00.
Live Nation Entertainment stock traded up $1.09 during trading on Thursday, reaching $71.36. The company had a trading volume of 575,710 shares, compared to its average volume of 1,133,695. Live Nation Entertainment, Inc. has a 52 week low of $46.02 and a 52 week high of $73.71. The firm’s 50-day simple moving average is $70.80 and its 200 day simple moving average is $66.02. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of -792.89 and a beta of 1.17. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.73.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 0.3 earnings per share for the current year.
Live Nation Entertainment Company Profile
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 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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