California State Teachers Retirement System Purchases 11,485 Shares of Live Nation Entertainment, Inc. $LYV

California State Teachers Retirement System raised its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,121 shares of the company's stock after acquiring an additional 11,485 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Live Nation Entertainment worth $44,334,776 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in Live Nation Entertainment during the second quarter valued at approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Kilter Group LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in Live Nation Entertainment during the 2nd quarter worth $27,000. Finally, Leonteq Securities AG acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $25,000. Institutional investors own 74.52% of the company's stock.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $1.35 during midday trading on Tuesday, reaching $170.14. The company's stock had a trading volume of 606,506 shares, compared to its average volume of 2,603,520. The company has a market cap of $40.09 billion, a P/E ratio of -150.72 and a beta of 1.11. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The business's 50 day moving average price is $180.10 and its two-hundred day moving average price is $169.24. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. On average, analysts forecast that Live Nation Entertainment, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of several recent research reports. Oppenheimer set a $100.00 price target on Live Nation Entertainment in a research report on Tuesday, July 28th. Guggenheim boosted their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Citigroup upped their price objective on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Benchmark boosted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.19.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment's live entertainment business and Live Nation.

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