Elo Mutual Pension Insurance Co Reduces Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Elo Mutual Pension Insurance Co cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 16.9% in the second quarter, Holdings Channel.com reports. The firm owned 12,243 shares of the company’s stock after selling 2,489 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Live Nation Entertainment were worth $1,148,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LYV. YHB Investment Advisors Inc. bought a new stake in Live Nation Entertainment during the 1st quarter valued at about $32,000. Rise Advisors LLC lifted its holdings in Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after buying an additional 119 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LYV shares. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Bank of America initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Roth Mkm restated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.46.

Live Nation Entertainment Stock Down 0.7 %

NYSE:LYV opened at $103.64 on Friday. The company has a market cap of $23.81 billion, a PE ratio of 98.70, a P/E/G ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The company’s 50 day moving average is $95.53 and its two-hundred day moving average is $96.12.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Company Profile

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.