IFM Investors Pty Ltd Has $3.34 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

IFM Investors Pty Ltd lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 30,486 shares of the company’s stock after selling 1,534 shares during the period. IFM Investors Pty Ltd’s holdings in Live Nation Entertainment were worth $3,338,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of Live Nation Entertainment by 11,822.2% during the third quarter. International Assets Investment Management LLC now owns 10,730 shares of the company’s stock valued at $1,175,000 after buying an additional 10,640 shares during the last quarter. Hartford Investment Management Co. raised its position in shares of Live Nation Entertainment by 8.0% during the third quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock valued at $1,082,000 after buying an additional 730 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after buying an additional 89 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Live Nation Entertainment by 17.7% during the third quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock valued at $316,000 after buying an additional 434 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Live Nation Entertainment by 17.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 570,350 shares of the company’s stock valued at $62,448,000 after buying an additional 82,844 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity

In other news, Director Ping Fu sold 1,701 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the sale, the director now directly owns 15,128 shares of the company’s stock, valued at $1,460,759.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the transaction, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 over the last three months. 2.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LYV. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. 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 target for the company. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer increased 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 report on Friday, September 6th. Finally, Roth Mkm increased their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $116.32 on Monday. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $117.48. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm’s 50-day moving average price is $104.91 and its two-hundred day moving average price is $97.59. The stock has a market capitalization of $26.72 billion, a price-to-earnings ratio of 110.78, a P/E/G ratio of 2.78 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last released its quarterly 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 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 the consensus estimate of $6.02 billion. During the same period last year, the company earned $1.02 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.18 earnings per share 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.