Standard Life Aberdeen plc bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 8,010 shares of the company’s stock, valued at approximately $389,000.

A number of other large investors have also made changes to their positions in the stock. Xact Kapitalforvaltning AB increased its position in Live Nation Entertainment by 8.7% during the 1st quarter. Xact Kapitalforvaltning AB now owns 14,621 shares of the company’s stock valued at $616,000 after buying an additional 1,169 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Live Nation Entertainment by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 111,151 shares of the company’s stock valued at $4,687,000 after buying an additional 1,182 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Live Nation Entertainment by 3.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 36,700 shares of the company’s stock valued at $1,783,000 after buying an additional 1,200 shares in the last quarter. Toronto Dominion Bank increased its position in Live Nation Entertainment by 16.5% during the 1st quarter. Toronto Dominion Bank now owns 9,909 shares of the company’s stock valued at $418,000 after buying an additional 1,405 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in Live Nation Entertainment by 3.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 42,040 shares of the company’s stock valued at $1,772,000 after buying an additional 1,520 shares in the last quarter. 70.94% of the stock is currently owned by institutional investors.

In other news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total value of $988,800.00. Following the sale, the chief financial officer now owns 299,338 shares in the company, valued at $14,799,270.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joe Berchtold sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $48.70, for a total value of $1,948,000.00. Following the completion of the sale, the president now owns 148,409 shares in the company, valued at approximately $7,227,518.30. The disclosure for this sale can be found here. Insiders sold 240,000 shares of company stock worth $11,808,000 over the last three months. Corporate insiders own 5.19% of the company’s stock.

Shares of LYV stock opened at $51.46 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $10.44 billion, a PE ratio of -107.21 and a beta of 1.06. Live Nation Entertainment, Inc. has a fifty-two week low of $35.94 and a fifty-two week high of $52.84.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. research analysts anticipate that Live Nation Entertainment, Inc. will post 0.01 EPS for the current year.

A number of research analysts have recently weighed in on the company. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 28th. Stephens set a $60.00 price objective on Live Nation Entertainment and gave the company a “buy” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, July 17th. Guggenheim reissued a “buy” rating and issued a $55.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 13th. Finally, Citigroup increased their price objective on Live Nation Entertainment from $45.00 to $56.00 and gave the company a “buy” rating in a report on Friday, June 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average price target of $55.21.

Live Nation Entertainment Profile

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 and/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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