Oppenheimer Asset Management Inc. Reduces Holdings in Live Nation Entertainment, Inc. (LYV)

Oppenheimer Asset Management Inc. decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,259 shares of the company’s stock after selling 1,241 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Live Nation Entertainment were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. NumerixS Investment Technologies Inc grew its stake in shares of Live Nation Entertainment by 130.8% during the second quarter. NumerixS Investment Technologies Inc now owns 4,171 shares of the company’s stock worth $203,000 after purchasing an additional 2,364 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Live Nation Entertainment during the second quarter worth $205,000. Santa Monica Partners LP acquired a new position in shares of Live Nation Entertainment during the second quarter worth $228,000. Hartford Investment Management Co. acquired a new position in shares of Live Nation Entertainment during the second quarter worth $239,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the third quarter worth $250,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

NYSE LYV opened at $54.85 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $35.94 and a 1 year high of $58.26.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.01 EPS for the current year.

In other Live Nation Entertainment news, President Joe Berchtold sold 40,000 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $49.48, for a total value of $1,979,200.00. Following the completion of the transaction, the president now owns 148,409 shares in the company, valued at $7,343,277.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $49.44, for a total transaction of $988,800.00. Following the completion of the transaction, the chief financial officer now owns 299,338 shares of the company’s stock, valued at approximately $14,799,270.72. The disclosure for this sale can be found here. Insiders sold 247,000 shares of company stock valued at $12,186,490 in the last 90 days. 5.19% of the stock is currently owned by insiders.

A number of equities analysts recently commented on the stock. ValuEngine downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. Stephens set a $60.00 target price on shares of Live Nation Entertainment and gave the stock a “buy” rating in a research note on Friday, July 27th. They noted that the move was a valuation call. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 17th. Guggenheim reiterated a “buy” rating and set a $55.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 13th. Finally, Jefferies Financial Group boosted their target price on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment currently has an average rating of “Buy” and a consensus target price of $56.79.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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