Cim Investment Management Inc. Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Cim Investment Management Inc. acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,536 shares of the company’s stock, valued at approximately $923,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LYV. Penserra Capital Management LLC acquired a new position in shares of Live Nation Entertainment during the second quarter valued at about $41,000. KB Financial Partners LLC acquired a new position in shares of Live Nation Entertainment during the first quarter valued at about $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Live Nation Entertainment during the second quarter valued at about $67,000. IFP Advisors Inc increased its holdings in shares of Live Nation Entertainment by 58.1% during the second quarter. IFP Advisors Inc now owns 925 shares of the company’s stock valued at $80,000 after acquiring an additional 340 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter valued at about $88,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Shares of NYSE:LYV traded up $0.42 during midday trading on Thursday, reaching $100.04. 17,228 shares of the company’s stock traded hands, compared to its average volume of 2,189,313. Live Nation Entertainment, Inc. has a 1 year low of $47.97 and a 1 year high of $102.24. The company has a market cap of $21.91 billion, a P/E ratio of -14.65 and a beta of 1.34. The company has a fifty day simple moving average of $88.49 and a two-hundred day simple moving average of $85.90.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, August 3rd. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.45. Live Nation Entertainment had a negative return on equity of 1,833.44% and a negative net margin of 114.44%. The firm had revenue of $575.95 million for the quarter, compared to analyst estimates of $469.84 million. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post -3.4 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on LYV shares. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, July 21st. Citigroup increased their price target on shares of Live Nation Entertainment from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Thursday, September 16th. Jefferies Financial Group increased their price target on shares of Live Nation Entertainment from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday, September 14th. The Goldman Sachs Group started coverage on shares of Live Nation Entertainment in a report on Thursday, July 15th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Live Nation Entertainment from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 5th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $94.00.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising and Ticketing. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues.

See Also: Return on Equity (ROE)

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV).

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

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.