November 30, 2016 - By Clifton Ray · 0 Comments
Live Nation Entertainment Inc (NYSE:LYV) institutional sentiment decreased to 0.83 in Q2 2016. Its down -0.26, from 1.09 in 2016Q1. The ratio is negative, as 114 active investment managers increased and opened new holdings, while 105 cut down and sold equity positions in Live Nation Entertainment Inc. The active investment managers in our partner’s database now possess: 125.43 million shares, up from 125.07 million shares in 2016Q1. Also, the number of active investment managers holding Live Nation Entertainment Inc in their top 10 holdings decreased from 5 to 3 for a decrease of 2. Sold All: 27 Reduced: 78 Increased: 83 New Position: 31.
Live Nation Entertainment, Inc. is a live entertainment company. The company has a market cap of $5.73 billion. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. It currently has negative earnings. The Company’s divisions include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.
About 312,695 shares traded hands. Live Nation Entertainment, Inc. (NYSE:LYV) has risen 29.29% since April 27, 2016 and is uptrending. It has outperformed by 24.06% the S&P500.
Analysts await Live Nation Entertainment, Inc. (NYSE:LYV) to report earnings on February, 23. They expect $-0.46 earnings per share, up 2.13% or $0.01 from last year’s $-0.47 per share. After $0.49 actual earnings per share reported by Live Nation Entertainment, Inc. for the previous quarter, Wall Street now forecasts -193.88% negative EPS growth.
According to Zacks Investment Research, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California.”
Concourse Capital Management Llc holds 5.16% of its portfolio in Live Nation Entertainment, Inc. for 353,528 shares. Valueworks Llc owns 219,962 shares or 4.2% of their US portfolio. Moreover, Edgepoint Investment Group Inc. has 4.01% invested in the company for 9.76 million shares. The California-based Old West Investment Management Llc has invested 2.67% in the stock. Gmt Capital Corp, a Georgia-based fund reported 2.81 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 6 sales for $4.26 million net activity.
Ratings analysis reveals 86% of Live Nation’s analysts are positive. Out of 7 Wall Street analysts rating Live Nation, 6 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $30.0 while the high is $33. The stock’s average target of $32.50 is 16.82% above today’s ($27.82) share price. LYV was included in 9 notes of analysts from September 18, 2015. BTIG Research initiated the shares of LYV in a report on Tuesday, March 29 with “Neutral” rating. The company was upgraded on Tuesday, November 8 by Stephens. JP Morgan initiated the stock with “Overweight” rating in Thursday, August 18 report. Citigroup maintained the shares of LYV in a report on Wednesday, October 12 with “Buy” rating. The firm earned “Buy” rating on Thursday, October 8 by Citigroup. The stock of Live Nation Entertainment, Inc. (NYSE:LYV) has “Overweight” rating given on Friday, October 30 by Albert Fried. Northcoast upgraded Live Nation Entertainment, Inc. (NYSE:LYV) on Monday, May 2 to “Buy” rating. The rating was initiated by Stephens on Thursday, October 6 with “Equal-Weight”. Gabelli initiated it with “Buy” rating and $33 target price in Friday, September 18 report.
Live Nation Entertainment, Inc. (Live Nation), incorporated on August 2, 2005, is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. The Company’s divisions include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate. The Firm connects approximately 530 million fans across its platforms in over 40 countries. The Firm is a producer of live music concerts around the world, based on total fans that attend Live Nation events as compared to events of other promoters, connecting approximately 60 million fans to over 25,500 events for approximately 3,300 artists.
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By Clifton Ray