Public Employees Retirement Association of Colorado Acquires 92,000 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Public Employees Retirement Association of Colorado boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 139.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,785 shares of the company’s stock after acquiring an additional 92,000 shares during the period. Public Employees Retirement Association of Colorado owned about 0.07% of Live Nation Entertainment worth $10,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Scott & Selber Inc. lifted its position in shares of Live Nation Entertainment by 0.4% during the third quarter. Scott & Selber Inc. now owns 41,160 shares of the company’s stock valued at $2,731,000 after buying an additional 153 shares during the last quarter. Advisor Partners LLC lifted its position in shares of Live Nation Entertainment by 3.4% during the second quarter. Advisor Partners LLC now owns 4,781 shares of the company’s stock valued at $317,000 after buying an additional 156 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Live Nation Entertainment by 1.5% during the second quarter. State of Alaska Department of Revenue now owns 16,329 shares of the company’s stock valued at $1,081,000 after buying an additional 235 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Live Nation Entertainment by 3.1% during the second quarter. IFM Investors Pty Ltd now owns 9,153 shares of the company’s stock valued at $606,000 after buying an additional 276 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Live Nation Entertainment by 4.0% during the second quarter. Advisor Group Inc. now owns 7,265 shares of the company’s stock valued at $482,000 after buying an additional 279 shares during the last quarter. Institutional investors own 69.09% of the company’s stock.

In other Live Nation Entertainment news, Director James S. Kahan purchased 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were bought at an average price of $61.54 per share, for a total transaction of $276,930.00. Following the acquisition, the director now owns 82,821 shares in the company, valued at $5,096,804.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowles sold 67,840 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total transaction of $4,864,806.40. Following the completion of the transaction, the executive vice president now owns 257,691 shares in the company, valued at approximately $18,479,021.61. The disclosure for this sale can be found here. Company insiders own 4.82% of the company’s stock.

Shares of Live Nation Entertainment stock traded up $0.32 during midday trading on Tuesday, hitting $64.79. The company had a trading volume of 47,536 shares, compared to its average volume of 1,389,472. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of -720.78 and a beta of 1.19. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.49. The company has a fifty day simple moving average of $67.11 and a 200 day simple moving average of $67.43. Live Nation Entertainment, Inc. has a 12-month low of $46.02 and a 12-month high of $73.71.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Live Nation Entertainment had a net margin of 0.61% and a return on equity of 4.96%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, analysts expect that Live Nation Entertainment, Inc. will post 0.15 EPS for the current year.

Several analysts have commented on LYV shares. Jefferies Financial Group set a $84.00 price target on shares of Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley started coverage on shares of Live Nation Entertainment in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $75.00 price target for the company. Evercore ISI raised shares of Live Nation Entertainment from an “in-line” rating to an “outperform” rating in a research report on Monday. Zacks Investment Research lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, ValuEngine raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Live Nation Entertainment presently has a consensus rating of “Buy” and an average target price of $73.33.

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 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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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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