Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 24.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,667 shares of the company’s stock after selling 12,351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Live Nation Entertainment were worth $2,495,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in Live Nation Entertainment by 81.0% in the 1st quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock valued at $35,000 after buying an additional 243 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter valued at approximately $37,000. CWM LLC lifted its stake in Live Nation Entertainment by 59.5% in the 1st quarter. CWM LLC now owns 622 shares of the company’s stock valued at $40,000 after buying an additional 232 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in Live Nation Entertainment in the 1st quarter valued at approximately $40,000. Finally, Hilton Capital Management LLC purchased a new stake in Live Nation Entertainment in the 1st quarter valued at approximately $69,000. Institutional investors and hedge funds own 69.59% of the company’s stock.
Shares of Live Nation Entertainment stock opened at $69.41 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $46.02 and a fifty-two week high of $73.71. The firm has a market cap of $15.21 billion, a PE ratio of -771.22 and a beta of 1.11. The business’s fifty day moving average is $70.20 and its two-hundred day moving average is $64.08. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.73.
A number of equities research analysts recently issued reports on the company. ValuEngine raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Atlantic Securities assumed coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 target price on the stock. Citigroup lowered Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 target price on the stock. in a research note on Friday, June 28th. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Berenberg Bank began coverage on Live Nation Entertainment in a research note on Tuesday, May 14th. They issued a “buy” rating and a $73.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment presently has a consensus rating of “Buy” and a consensus target price of $68.57.
In related news, EVP Michael Rowles sold 67,840 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $63.14, for a total value of $4,283,417.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 5,447 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $62.45, for a total value of $340,165.15. Following the completion of the transaction, the director now directly owns 67,886 shares in the company, valued at $4,239,480.70. The disclosure for this sale can be found here. Corporate insiders own 4.82% of the company’s stock.
Live Nation Entertainment Company Profile
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 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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