Two Sigma Investments LP cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 956,437 shares of the company’s stock after selling 154,389 shares during the period. Two Sigma Investments LP owned about 0.46% of Live Nation Entertainment worth $40,716,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LYV. Crossmark Global Holdings Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $588,000. State Board of Administration of Florida Retirement System increased its stake in Live Nation Entertainment by 1.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 161,708 shares of the company’s stock valued at $7,042,000 after purchasing an additional 1,560 shares in the last quarter. Prudential Financial Inc. increased its stake in Live Nation Entertainment by 49.9% during the 3rd quarter. Prudential Financial Inc. now owns 135,209 shares of the company’s stock valued at $5,889,000 after purchasing an additional 45,000 shares in the last quarter. Swiss National Bank increased its stake in Live Nation Entertainment by 0.8% during the 3rd quarter. Swiss National Bank now owns 223,500 shares of the company’s stock valued at $9,733,000 after purchasing an additional 1,800 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Live Nation Entertainment by 5.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 56,512 shares of the company’s stock valued at $2,461,000 after purchasing an additional 2,882 shares in the last quarter. Institutional investors and hedge funds own 69.07% of the company’s stock.
Shares of Live Nation Entertainment, Inc. (NYSE LYV) opened at $45.15 on Wednesday. Live Nation Entertainment, Inc. has a one year low of $28.42 and a one year high of $49.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.38.
Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, February 27th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($0.04). Live Nation Entertainment had a negative return on equity of 1.71% and a negative net margin of 0.24%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.06 billion. analysts expect that Live Nation Entertainment, Inc. will post 0.37 EPS for the current fiscal year.
LYV has been the subject of a number of recent research reports. Citigroup lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Macquarie restated a “buy” rating and set a $52.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, January 17th. Finally, Guggenheim restated a “buy” rating and set a $53.00 price target on shares of Live Nation Entertainment in a research note on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.86.
ILLEGAL ACTIVITY NOTICE: “Two Sigma Investments LP Sells 154,389 Shares of Live Nation Entertainment, Inc. (LYV)” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://ledgergazette.com/2018/03/14/two-sigma-investments-lp-sells-154389-shares-of-live-nation-entertainment-inc-lyv.html.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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).
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.