Pictet Asset Management Ltd. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 387,264 shares of the company’s stock after selling 14,946 shares during the quarter. Pictet Asset Management Ltd. owned about 0.18% of Live Nation Entertainment worth $25,656,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of LYV. CIBC Private Wealth Group LLC boosted its holdings in shares of Live Nation Entertainment by 28.3% during the first quarter. CIBC Private Wealth Group LLC now owns 1,655,096 shares of the company’s stock worth $105,165,000 after purchasing an additional 365,288 shares during the last quarter. Federated Investors Inc. PA boosted its holdings 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 worth $67,241,000 after purchasing an additional 243,742 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $68,818,000 after purchasing an additional 183,255 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings 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 worth $30,752,000 after purchasing an additional 179,838 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of Live Nation Entertainment during the first quarter worth $11,011,000. Institutional investors and hedge funds own 69.42% of the company’s stock.
Live Nation Entertainment stock traded up $0.02 during midday trading on Friday, reaching $70.65. The stock had a trading volume of 254,419 shares, compared to its average volume of 782,778. Live Nation Entertainment, Inc. has a twelve month low of $46.02 and a twelve month high of $73.71. The stock has a market capitalization of $14.66 billion, a PE ratio of -785.00 and a beta of 1.17. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day simple moving average is $70.80 and its 200 day simple moving average is $66.02.
In other Live Nation Entertainment news, EVP Michael Rowles sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total value of $4,864,806.40. Following the transaction, the executive vice president now directly owns 257,691 shares of the company’s stock, valued at $18,479,021.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.82% of the company’s stock.
Several research firms have recently issued reports on LYV. Atlantic Securities started coverage on Live Nation Entertainment in a report on Tuesday, June 11th. They set an “overweight” rating and a $75.00 price objective on the stock. Guggenheim set a $80.00 target price on Live Nation Entertainment and gave the company a “buy” rating in a report on Thursday, August 29th. Zacks Investment Research cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Citigroup cut Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 target price on the stock. in a report on Friday, June 28th. One equities research 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 company’s stock. Live Nation Entertainment presently has a consensus rating of “Buy” and an average target price of $70.00.
Live Nation Entertainment 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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