Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Concourse Capital Management LLC

Concourse Capital Management LLC trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,191 shares of the company’s stock after selling 8,915 shares during the quarter. Live Nation Entertainment accounts for 1.6% of Concourse Capital Management LLC’s portfolio, making the stock its 21st largest position. Concourse Capital Management LLC’s holdings in Live Nation Entertainment were worth $3,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of LYV. Vanguard Group Inc. increased its stake in Live Nation Entertainment by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock valued at $378,695,000 after buying an additional 451,457 shares during the last quarter. Canada Pension Plan Investment Board increased its position in 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 purchasing an additional 5,715,400 shares in the last quarter. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 2.4% during the 2nd quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock worth $181,234,000 after purchasing an additional 120,428 shares in the last quarter. State Street Corp increased its position in Live Nation Entertainment by 2.8% during the 2nd quarter. State Street Corp now owns 3,497,318 shares of the company’s stock worth $121,878,000 after purchasing an additional 95,764 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Live Nation Entertainment during the 2nd quarter worth approximately $109,693,000. 68.09% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on LYV. Jefferies Group restated a “buy” rating and issued a $42.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 12th. Macquarie restated a “buy” rating and issued a $48.00 price target on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Zacks Investment Research cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. Finally, Stephens reiterated an “overweight” rating and set a $44.00 price objective (up from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. Four equities 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 company’s stock. The company currently has an average rating of “Buy” and an average price target of $42.86.

Live Nation Entertainment, Inc. (LYV) traded down $0.31 during midday trading on Wednesday, reaching $43.35. 2,108,900 shares of the company were exchanged, compared to its average volume of 1,447,781. Live Nation Entertainment, Inc. has a 1-year low of $26.41 and a 1-year high of $46.99. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $9,028.88, a P/E ratio of 2,183.00 and a beta of 1.05.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data 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). The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. research analysts predict that Live Nation Entertainment, Inc. will post 0.18 earnings per share for the current fiscal year.

In other Live Nation Entertainment news, insider Brian Capo sold 7,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the completion of the sale, the insider now directly owns 13,354 shares in the company, valued at $540,837. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joe Berchtold sold 20,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $46.55, for a total transaction of $931,000.00. Following the sale, the chief operating officer now owns 77,918 shares of the company’s stock, valued at $3,627,082.90. The disclosure for this sale can be found here. Insiders sold 824,011 shares of company stock valued at $37,250,502 in the last quarter. Corporate insiders own 4.77% of the company’s stock.

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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.

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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