Mutual of America Capital Management LLC Sells 621 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Mutual of America Capital Management LLC cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 17,961 shares of the company’s stock after selling 621 shares during the period. Mutual of America Capital Management LLC’s holdings in Live Nation Entertainment were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment during the first quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. Rise Advisors LLC raised its stake in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Oppenheimer raised 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. Macquarie restated an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.46.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Brian Capo sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 in the last 90 days. 2.85% of the stock is owned by insiders.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $106.95 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $108.12. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $24.63 billion, a price-to-earnings ratio of 101.86, a PEG ratio of 2.46 and a beta of 1.34. The firm has a fifty day moving average of $96.17 and a two-hundred day moving average of $96.27.

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