OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 68.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,400 shares of the company’s stock after buying an additional 3,000 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Live Nation Entertainment were worth $359,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LYV. Xact Kapitalforvaltning AB lifted its stake in Live Nation Entertainment by 8.7% in the first quarter. Xact Kapitalforvaltning AB now owns 14,621 shares of the company’s stock valued at $616,000 after acquiring an additional 1,169 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Live Nation Entertainment by 1.1% in the first quarter. Great West Life Assurance Co. Can now owns 111,151 shares of the company’s stock valued at $4,687,000 after acquiring an additional 1,182 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Live Nation Entertainment by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 36,700 shares of the company’s stock valued at $1,783,000 after acquiring an additional 1,200 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Live Nation Entertainment by 2.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 46,368 shares of the company’s stock valued at $2,252,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in Live Nation Entertainment by 16.5% in the first quarter. Toronto Dominion Bank now owns 9,909 shares of the company’s stock valued at $418,000 after acquiring an additional 1,405 shares during the last quarter. Institutional investors and hedge funds own 70.94% of the company’s stock.

In other news, President Joe Berchtold sold 20,000 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $49.35, for a total value of $987,000.00. Following the transaction, the president now owns 163,409 shares of the company’s stock, valued at $8,064,234.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth Kathleen Willard sold 40,000 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $49.37, for a total transaction of $1,974,800.00. Following the completion of the transaction, the chief financial officer now directly owns 259,338 shares in the company, valued at approximately $12,803,517.06. The disclosure for this sale can be found here. In the last three months, insiders sold 240,000 shares of company stock worth $11,808,000. Insiders own 5.19% of the company’s stock.

A number of research firms have issued reports on LYV. Jefferies Financial Group lifted their target price on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 17th. ValuEngine cut shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, Guggenheim reiterated a “buy” rating and issued a $55.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Live Nation Entertainment has an average rating of “Buy” and an average price target of $55.21.

NYSE:LYV opened at $54.71 on Monday. Live Nation Entertainment, Inc. has a 12 month low of $35.94 and a 12 month high of $55.26. The company has a market capitalization of $11.04 billion, a PE ratio of -113.98 and a beta of 1.05. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Live Nation Entertainment had a negative net margin of 0.35% and a negative return on equity of 2.49%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. analysts predict that Live Nation Entertainment, Inc. will post 0.01 earnings per share for the current fiscal year.

About Live Nation Entertainment

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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