Wells Fargo & Company MN Has $94.03 Million Holdings in Live Nation Entertainment, Inc. (LYV)

Wells Fargo & Company MN trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 52.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,159,156 shares of the company’s stock after selling 2,423,562 shares during the period. Wells Fargo & Company MN owned about 1.04% of Live Nation Entertainment worth $94,031,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Live Nation Entertainment by 4.3% in the second quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock valued at $378,695,000 after acquiring an additional 451,457 shares during the period. Canada Pension Plan Investment Board boosted its stake in Live Nation Entertainment by 8,038.5% in the third 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. lifted its stake in shares of Live Nation Entertainment by 2.4% during the second quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock valued at $181,234,000 after acquiring an additional 120,428 shares during the period. State Street Corp lifted its stake in shares of Live Nation Entertainment by 2.8% during the second quarter. State Street Corp now owns 3,497,318 shares of the company’s stock valued at $121,878,000 after acquiring an additional 95,764 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Live Nation Entertainment during the second quarter valued at $109,693,000. Hedge funds and other institutional investors own 68.09% of the company’s stock.

In other Live Nation Entertainment news, insider Brian Capo sold 7,500 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.50, for a total value 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ariel Emanuel sold 10,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $41.56, for a total value of $415,600.00. Following the completion of the sale, the director now owns 85,737 shares of the company’s stock, valued at $3,563,229.72. The disclosure for this sale can be found here. Insiders sold 824,011 shares of company stock valued at $37,250,502 over the last 90 days. Corporate insiders own 4.77% of the company’s stock.

LYV has been the topic of several research reports. Stephens reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. Zacks Investment Research lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Jefferies Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, September 12th. Finally, Macquarie reiterated a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a report on Sunday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment has an average rating of “Buy” and a consensus target price of $42.86.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) traded down $0.31 during trading on Wednesday, hitting $43.35. The company’s stock had a trading volume of 2,108,900 shares, compared to its average volume of 1,447,781. Live Nation Entertainment, Inc. has a 12 month low of $26.41 and a 12 month high of $46.99. The company has a market capitalization of $9,028.88, a P/E ratio of 2,183.00 and a beta of 1.05. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. equities research analysts expect that Live Nation Entertainment, Inc. will post 0.18 EPS for the current fiscal year.

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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.

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

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