State of Tennessee Treasury Department Has $2,852,000 Holding in Live Nation Entertainment, Inc. (LYV)

State of Tennessee Treasury Department Has $2,852,000 Holding in Live Nation Entertainment, Inc. (LYV)

State of Tennessee Treasury Department maintained its position in Live Nation Entertainment, Inc. (NYSE:LYV) during the first quarter, Holdings Channel reports. The fund owned 93,900 shares of the company’s stock at the end of the first quarter. State of Tennessee Treasury Department’s holdings in Live Nation Entertainment were worth $2,852,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Credit Agricole S A purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $115,000. Tyers Asset Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $175,000. PICTET BANK & TRUST Ltd purchased a new position in Live Nation Entertainment during the third quarter valued at approximately $203,000. Gideon Capital Advisors Inc. purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $205,000. Finally, Flinton Capital Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $213,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment, Inc. (NYSE:LYV) traded up 0.88% during midday trading on Wednesday, hitting $34.49. 1,138,460 shares of the stock were exchanged. The company’s market capitalization is $7.05 billion. Live Nation Entertainment, Inc. has a 1-year low of $22.20 and a 1-year high of $35.13. The company’s 50 day moving average is $32.81 and its 200 day moving average is $29.51.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 4th. The company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Live Nation Entertainment had a net margin of 0.31% and a return on equity of 1.80%. Live Nation Entertainment’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post $0.13 earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. Guggenheim assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating on shares of Live Nation Entertainment in a report on Monday, May 15th. Citigroup Inc reissued a “buy” rating and issued a $39.00 target price (up from $32.00) on shares of Live Nation Entertainment in a report on Friday, May 19th. Zacks Investment Research lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Macquarie reissued an “outperform” rating and issued a $38.00 target price on shares of Live Nation Entertainment in a report on Sunday, May 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Live Nation Entertainment presently has an average rating of “Buy” and an average price target of $36.22.

In related news, Director James S. Kahan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $34.01, for a total value of $340,100.00. Following the transaction, the director now directly owns 82,605 shares in the company, valued at $2,809,396.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret L. Johnson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $28.63, for a total transaction of $257,670.00. The disclosure for this sale can be found here. 4.16% of the stock is currently owned by corporate insiders.

About Live Nation Entertainment

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LYV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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