Baskin Financial Services Inc. boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 332,502 shares of the company’s stock after acquiring an additional 2,919 shares during the period. Live Nation Entertainment makes up approximately 3.3% of Baskin Financial Services Inc.’s holdings, making the stock its 11th biggest holding. Baskin Financial Services Inc.’s holdings in Live Nation Entertainment were worth $18,111,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NumerixS Investment Technologies Inc lifted its position in Live Nation Entertainment by 130.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 4,171 shares of the company’s stock valued at $203,000 after purchasing an additional 2,364 shares during the period. Pinnacle Associates Ltd. acquired a new position in Live Nation Entertainment during the 2nd quarter valued at about $205,000. Santa Monica Partners LP acquired a new position in Live Nation Entertainment during the 2nd quarter valued at about $228,000. Hartford Investment Management Co. acquired a new position in Live Nation Entertainment during the 2nd quarter valued at about $239,000. Finally, IFM Investors Pty Ltd acquired a new position in Live Nation Entertainment during the 2nd quarter valued at about $258,000. 69.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LYV traded down $1.22 during mid-day trading on Thursday, reaching $52.26. The stock had a trading volume of 46,233 shares, compared to its average volume of 1,522,336. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of -110.63 and a beta of 1.01. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a twelve month low of $35.94 and a twelve month high of $55.26.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results 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 the consensus estimate of $2.85 billion. Live Nation Entertainment had a negative net margin of 0.35% and a negative return on equity of 2.49%. Live Nation Entertainment’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 0.01 earnings per share for the current year.

A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. Citigroup reiterated a “buy” rating and issued a $56.00 price target (up from $45.00) on shares of Live Nation Entertainment in a research report on Thursday, June 28th. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.21.

In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $49.44, for a total transaction of $988,800.00. Following the sale, the chief financial officer now directly owns 299,338 shares in the company, valued at approximately $14,799,270.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Joe Berchtold sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $48.70, for a total transaction of $1,948,000.00. Following the sale, the president now owns 148,409 shares in the company, valued at $7,227,518.30. The disclosure for this sale can be found here. Insiders sold a total of 247,000 shares of company stock worth $12,186,490 over the last quarter. 5.19% of the stock is currently owned by corporate insiders.

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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