57,296 Shares in Live Nation Entertainment, Inc. (LYV) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 57,296 shares of the company’s stock, valued at approximately $2,495,000.

Several other institutional investors have also bought and sold shares of LYV. Canada Pension Plan Investment Board raised its holdings in shares of Live Nation Entertainment by 8,038.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock worth $252,002,000 after buying an additional 5,715,400 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Live Nation Entertainment during the 2nd quarter worth $109,693,000. Victory Capital Management Inc. raised its holdings in shares of Live Nation Entertainment by 80.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,516,512 shares of the company’s stock worth $52,851,000 after buying an additional 678,283 shares in the last quarter. Scout Investments Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $24,217,000. Finally, Vanguard Group Inc. raised its holdings in shares of Live Nation Entertainment by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock worth $378,695,000 after buying an additional 451,457 shares in the last quarter. 68.09% of the stock is owned by institutional investors.

In other Live Nation Entertainment news, EVP Michael Rowles sold 46,511 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $43.35, for a total value of $2,016,251.85. Following the sale, the executive vice president now owns 192,054 shares in the company, valued at approximately $8,325,540.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Rapino sold 70,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total value of $3,000,900.00. Following the completion of the sale, the chief executive officer now owns 115,277 shares in the company, valued at approximately $4,941,924.99. The disclosure for this sale can be found here. Insiders sold a total of 1,106,511 shares of company stock worth $49,467,752 in the last quarter. Corporate insiders own 4.77% of the company’s stock.

A number of brokerages have issued reports on LYV. Macquarie reaffirmed a “buy” rating and issued a $48.00 target price on shares of Live Nation Entertainment in a report on Sunday, November 5th. Jefferies Group upped their target price on Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research cut Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $42.86.

Shares of Live Nation Entertainment, Inc. (LYV) traded down $0.23 on Thursday, reaching $42.69. The company’s stock had a trading volume of 1,805,900 shares, compared to its average volume of 1,453,080. Live Nation Entertainment, Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $46.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The firm has a market cap of $8,920.00, a PE ratio of 2,146.00 and a beta of 1.05.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the company earned $0.49 EPS. Live Nation Entertainment’s revenue for the quarter was up 12.3% on a year-over-year basis. equities analysts forecast that Live Nation Entertainment, Inc. will post 0.2 earnings per share for the current fiscal year.

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Live Nation Entertainment Company Profile

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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