Sentry Investment Management LLC Lowers Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Sentry Investment Management LLC decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 616 shares of the company’s stock after selling 126 shares during the quarter. Sentry Investment Management LLC’s holdings in Live Nation Entertainment were worth $58,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LYV shares. Benchmark reiterated a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday. Bank of America started coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer increased their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment Stock Up 1.6 %

NYSE:LYV opened at $98.85 on Friday. The firm has a market capitalization of $22.71 billion, a P/E ratio of 94.14, a PEG ratio of 2.29 and a beta of 1.34. The company’s fifty day moving average price is $94.89 and its 200-day moving average price is $95.91. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $1.02 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Company Profile

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.