Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 86.2% during the second quarter, HoldingsChannel reports. The firm owned 5,262 shares of the company’s stock after selling 32,927 shares during the period. Candriam S.C.A.’s holdings in Live Nation Entertainment were worth $493,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after acquiring an additional 110,097 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Live Nation Entertainment by 12.0% in the first quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after purchasing an additional 388,980 shares during the period. Cantillon Capital Management LLC grew its holdings in Live Nation Entertainment by 16.7% during the 1st quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock valued at $339,066,000 after purchasing an additional 458,893 shares in the last quarter. Norges Bank purchased a new stake in Live Nation Entertainment during the 4th quarter worth $248,139,000. Finally, Artisan Partners Limited Partnership lifted its holdings in Live Nation Entertainment by 7.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock worth $205,144,000 after buying an additional 153,825 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LYV. Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Roth Mkm reiterated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Friday, May 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.46.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,841 shares of company stock valued at $1,325,279. 2.85% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $97.33 on Thursday. The company has a market cap of $22.36 billion, a P/E ratio of 92.70, a PEG ratio of 2.21 and a beta of 1.34. The business has a 50 day moving average of $94.77 and a two-hundred day moving average of $95.85. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.19 EPS for the current year.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. 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. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.