Graham Capital Management L.P. lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 338.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,238 shares of the company’s stock after acquiring an additional 11,760 shares during the quarter. Graham Capital Management L.P.’s holdings in Live Nation Entertainment were worth $1,792,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Achmea Investment Management B.V. acquired a new stake in Live Nation Entertainment in the first quarter valued at $946,000. PFS Investments Inc. acquired a new stake in Live Nation Entertainment in the 1st quarter valued at about $254,000. Proficio Capital Partners LLC acquired a new position in Live Nation Entertainment during the first quarter worth about $340,000. Centaurus Financial Inc. purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at about $745,000. Finally, Renaissance Technologies LLC grew its position in shares of Live Nation Entertainment by 81.9% in the first quarter. Renaissance Technologies LLC now owns 219,585 shares of the company’s stock valued at $25,832,000 after purchasing an additional 98,900 shares during the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.
Insider Activity at Live Nation Entertainment
In other Live Nation Entertainment news, CEO Michael Rapino sold 78,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $90.88, for a total transaction of $7,088,640.00. Following the completion of the sale, the chief executive officer now directly owns 3,645,273 shares in the company, valued at $331,282,410.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $99.42, for a total value of $49,710.00. Following the completion of the sale, the director now owns 60,531 shares in the company, valued at $6,017,992.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $90.88, for a total transaction of $7,088,640.00. Following the completion of the transaction, the chief executive officer now owns 3,645,273 shares of the company’s stock, valued at $331,282,410.24. The disclosure for this sale can be found here. 4.01% of the stock is currently owned by insiders.
Live Nation Entertainment Trading Up 2.6 %
Live Nation Entertainment (NYSE:LYV – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned ($0.90) earnings per share. The business’s revenue for the quarter was up 669.9% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 0.4 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Citigroup upped their target price on Live Nation Entertainment from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Wolfe Research decreased their price objective on Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. Morgan Stanley reduced their target price on shares of Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, June 2nd. Macquarie upgraded shares of Live Nation Entertainment from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $117.00 to $105.00 in a report on Tuesday, July 5th. Finally, Benchmark upped their price objective on shares of Live Nation Entertainment to $140.00 in a research note on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.10.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.
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