State of New Jersey Common Pension Fund D Decreases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

State of New Jersey Common Pension Fund D lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 34.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,033 shares of the company’s stock after selling 31,973 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Live Nation Entertainment were worth $5,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new stake in Live Nation Entertainment in the first quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. Rise Advisors LLC increased its stake in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the period. Lindbrook Capital LLC increased its stake in Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares during the period. Finally, UMB Bank n.a. increased its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.6 %

Shares of NYSE:LYV opened at $98.85 on Monday. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $107.24. The stock has a market cap of $22.71 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 2.29 and a beta of 1.34. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The business has a 50-day moving average price of $94.89 and a 200-day moving average price of $95.94.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 over the last three months. 2.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LYV shares. Benchmark reissued a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America started coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.46.

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.