Live Nation Entertainment, Inc. (NYSE:LYV) Holdings Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,831 shares of the company’s stock after selling 3,927 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Live Nation Entertainment were worth $2,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cetera Advisors LLC bought a new position in shares of Live Nation Entertainment in the first quarter worth $207,000. DNB Asset Management AS grew its position in Live Nation Entertainment by 1.8% in the 2nd quarter. DNB Asset Management AS now owns 24,840 shares of the company’s stock valued at $2,329,000 after buying an additional 439 shares in the last quarter. CWM LLC increased its stake in Live Nation Entertainment by 8.4% during the 2nd quarter. CWM LLC now owns 2,389 shares of the company’s stock valued at $224,000 after buying an additional 186 shares during the period. Simplicity Wealth LLC raised its position in shares of Live Nation Entertainment by 1.2% during the 2nd quarter. Simplicity Wealth LLC now owns 30,593 shares of the company’s stock worth $2,868,000 after buying an additional 377 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. lifted its stake in shares of Live Nation Entertainment by 4.7% in the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 18,075 shares of the company’s stock worth $1,694,000 after acquiring an additional 807 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,799 shares of company stock valued at $16,449,718. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the topic of several recent analyst reports. Macquarie boosted their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Citigroup boosted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Bank of America boosted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Roth Mkm raised their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Live Nation Entertainment Stock Down 0.3 %

Shares of NYSE:LYV opened at $137.38 on Wednesday. The firm has a 50 day simple moving average of $121.04 and a 200 day simple moving average of $104.08. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 52 week low of $81.38 and a 52 week high of $141.18. The company has a market cap of $31.92 billion, a PE ratio of 146.15, a price-to-earnings-growth ratio of 3.73 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

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.