Retirement Systems of Alabama raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172,188 shares of the company’s stock after buying an additional 1,472 shares during the period. Retirement Systems of Alabama’s holdings in Live Nation Entertainment were worth $6,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Live Nation Entertainment by 5.2% in the first quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock valued at $316,303,000 after buying an additional 517,577 shares during the period. Sentry Investments Corp. increased its position in Live Nation Entertainment by 10.0% in the first quarter. Sentry Investments Corp. now owns 5,690,700 shares of the company’s stock valued at $172,827,000 after buying an additional 519,400 shares during the period. State Street Corp increased its position in Live Nation Entertainment by 2.9% in the first quarter. State Street Corp now owns 3,401,554 shares of the company’s stock valued at $103,306,000 after buying an additional 95,550 shares during the period. Jennison Associates LLC increased its position in Live Nation Entertainment by 4.5% in the first quarter. Jennison Associates LLC now owns 1,878,837 shares of the company’s stock valued at $57,060,000 after buying an additional 81,699 shares during the period. Finally, Gabelli Funds LLC increased its position in Live Nation Entertainment by 1.8% in the first quarter. Gabelli Funds LLC now owns 1,469,800 shares of the company’s stock valued at $44,638,000 after buying an additional 26,000 shares during the period. 65.62% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment, Inc. (NYSE:LYV) opened at 39.75 on Thursday. The company has a 50 day moving average of $36.55 and a 200 day moving average of $32.84. The stock has a market capitalization of $8.15 billion, a P/E ratio of 5678.57 and a beta of 1.00. Live Nation Entertainment, Inc. has a 52 week low of $25.56 and a 52 week high of $42.20.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the company earned $0.13 EPS. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post $0.22 EPS for the current fiscal year.

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Several research analysts have commented on LYV shares. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 11th. Macquarie reissued an “outperform” rating and set a $38.00 price target on shares of Live Nation Entertainment in a research note on Sunday, May 14th. Jefferies Group LLC reissued a “buy” rating and set a $36.00 price target on shares of Live Nation Entertainment in a research note on Monday, June 5th. ValuEngine raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Guggenheim started coverage on shares of Live Nation Entertainment in a research note on Wednesday, May 24th. They set a “buy” rating and a $40.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $38.75.

In related news, Director Robert Ted Enloe III sold 6,337 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the sale, the director now owns 23,450 shares in the company, valued at approximately $839,979. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total value of $697,200.00. Following the sale, the chief financial officer now owns 286,216 shares in the company, valued at approximately $9,977,489.76. The disclosure for this sale can be found here. Corporate insiders own 4.77% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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

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