Parallel Advisors LLC Has $495,000 Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Parallel Advisors LLC decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 23.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,278 shares of the company’s stock after selling 1,617 shares during the quarter. Parallel Advisors LLC’s holdings in Live Nation Entertainment were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Gilbert & Cook Inc. lifted its stake in Live Nation Entertainment by 4.0% in the fourth quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock valued at $605,000 after buying an additional 249 shares during the period. Dimensional Fund Advisors LP lifted its stake in Live Nation Entertainment by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 767,248 shares of the company’s stock valued at $71,820,000 after buying an additional 22,104 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Live Nation Entertainment by 35.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,687 shares of the company’s stock valued at $532,000 after buying an additional 1,483 shares during the period. Brown Advisory Inc. acquired a new position in Live Nation Entertainment in the fourth quarter valued at about $233,000. Finally, Kentucky Retirement Systems lifted its stake in Live Nation Entertainment by 4.3% in the fourth quarter. Kentucky Retirement Systems now owns 11,352 shares of the company’s stock valued at $1,063,000 after buying an additional 469 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 over the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America assumed coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Oppenheimer raised their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment Stock Up 1.4 %

NYSE:LYV opened at $102.92 on Wednesday. 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 50-day simple moving average of $95.03 and a 200 day simple moving average of $95.97. The company has a market cap of $23.65 billion, a PE ratio of 98.02, a PEG ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 earnings per share. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Live Nation Entertainment 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.