Scout Investments Inc. Reduces Holdings in Live Nation (LYV)

Scout Investments Inc. lowered its stake in Live Nation (NYSE:LYV) by 21.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 356,527 shares of the company’s stock after selling 96,286 shares during the period. Scout Investments Inc. owned approximately 0.17% of Live Nation worth $15,024,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its holdings in shares of Live Nation by 36.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 32,029 shares of the company’s stock valued at $1,350,000 after buying an additional 8,501 shares in the last quarter. Federated Investors Inc. PA increased its holdings in shares of Live Nation by 103.8% in the first quarter. Federated Investors Inc. PA now owns 515,614 shares of the company’s stock valued at $21,728,000 after buying an additional 262,648 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Live Nation by 0.9% in the first quarter. Northern Trust Corp now owns 1,465,264 shares of the company’s stock valued at $61,747,000 after buying an additional 12,803 shares in the last quarter. 6 Meridian bought a new position in shares of Live Nation in the first quarter valued at $442,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Live Nation by 34.6% in the first quarter. Envestnet Asset Management Inc. now owns 30,542 shares of the company’s stock valued at $1,286,000 after buying an additional 7,851 shares in the last quarter. 68.13% of the stock is currently owned by institutional investors.

Shares of NYSE:LYV opened at $44.44 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.05 and a current ratio of 1.05. Live Nation has a 12-month low of $33.13 and a 12-month high of $49.11. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of -92.58 and a beta of 0.98.

Live Nation (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 3rd. The company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. Live Nation had a negative net margin of 0.25% and a negative return on equity of 1.76%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted ($0.22) earnings per share. Live Nation’s revenue for the quarter was up 19.2% compared to the same quarter last year. sell-side analysts forecast that Live Nation will post 0.14 earnings per share for the current fiscal year.

Several analysts have issued reports on LYV shares. Evercore ISI raised shares of Live Nation from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $32.80 to $49.11 in a research note on Friday, May 4th. Macquarie reissued a “buy” rating and set a $55.00 target price on shares of Live Nation in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Live Nation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. ValuEngine raised shares of Live Nation from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Guggenheim reissued a “buy” rating and set a $53.00 target price on shares of Live Nation in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.14.

Live Nation 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.

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

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



Leave a Reply