Engineers Gate Manager LP Has $560,000 Stake in Live Nation Entertainment, Inc. (LYV)

Engineers Gate Manager LP cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 87.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,060 shares of the company’s stock after selling 112,432 shares during the quarter. Engineers Gate Manager LP’s holdings in Live Nation Entertainment were worth $560,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $529,000. Gareth Morgan Investments Limited Partnership acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $1,222,000. Northwestern Mutual Investment Management Company LLC raised its position in shares of Live Nation Entertainment by 10.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 25,224 shares of the company’s stock valued at $593,000 after buying an additional 2,436 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Live Nation Entertainment by 0.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,493 shares of the company’s stock valued at $679,000 after buying an additional 177 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Live Nation Entertainment by 57.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,058 shares of the company’s stock valued at $420,000 after buying an additional 4,387 shares in the last quarter. Institutional investors own 65.71% of the company’s stock.

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Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Guggenheim began coverage on shares of Live Nation Entertainment in a research report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 target price for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 12th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.71.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) opened at 42.09 on Friday. Live Nation Entertainment, Inc. has a one year low of $25.93 and a one year high of $42.20. The company’s 50 day moving average is $39.26 and its 200 day moving average is $34.45. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 6012.86 and a beta of 1.01.

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

In related news, insider Brian Capo sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the sale, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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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