Daiwa Securities Group Inc. Reduces Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Daiwa Securities Group Inc. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 24.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,600 shares of the company’s stock after selling 13,100 shares during the period. Daiwa Securities Group Inc.’s holdings in Live Nation Entertainment were worth $1,415,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LYV. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $210,000. Lebenthal Lisanti Capital Growth LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $999,000. Spark Investment Management LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $1,369,000. Great West Life Assurance Co. Can boosted its stake in shares of Live Nation Entertainment by 2.1% in the second quarter. Great West Life Assurance Co. Can now owns 80,549 shares of the company’s stock worth $2,806,000 after buying an additional 1,660 shares during the period. Finally, NGAM Advisors L.P. boosted its stake in shares of Live Nation Entertainment by 4.5% in the second quarter. NGAM Advisors L.P. now owns 257,692 shares of the company’s stock worth $8,980,000 after buying an additional 11,098 shares during the period. 64.45% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment, Inc. (NYSE LYV) opened at 37.50 on Thursday. The firm has a 50-day moving average of $35.88 and a 200-day moving average of $32.42. Live Nation Entertainment, Inc. has a one year low of $25.56 and a one year high of $38.02. The firm’s market cap is $7.67 billion.

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A number of analysts recently weighed in on the stock. William Blair assumed coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They set an “outperform” rating for the company. BidaskClub upgraded shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Jefferies Group LLC boosted their price objective on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $37.38.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 6,337 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $35.82, for a total value of $226,991.34. Following the sale, the director now directly owns 23,450 shares in the company, valued at approximately $839,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total transaction of $697,200.00. Following the completion of the sale, the chief financial officer now owns 286,216 shares in the company, valued at $9,977,489.76. The disclosure for this sale can be found here. Company insiders own 4.77% of the company’s stock.

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.

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

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