William Blair Investment Management LLC Sells 145,538 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• William Blair Investment Management LLC reduced its stake in Live Nation Entertainment by 8.2%, selling 145,538 shares in the second quarter, leaving them with approximately 1.6 million shares valued at over $245 million.
• Live Nation's stock recently opened at $155.15, showing a 2.3% increase, and has a market capitalization of $36.38 billion with a P/E ratio of 67.17.
• The company reported quarterly earnings of $0.41 EPS, falling short of analysts' estimates of $1.08 EPS, while revenue exceeded expectations at $7.01 billion.

William Blair Investment Management LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,625,015 shares of the company's stock after selling 145,538 shares during the period. William Blair Investment Management LLC owned approximately 0.70% of Live Nation Entertainment worth $245,832,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LYV. Farther Finance Advisors LLC boosted its holdings in Live Nation Entertainment by 72.6% in the first quarter. Farther Finance Advisors LLC now owns 744 shares of the company's stock worth $98,000 after purchasing an additional 313 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Live Nation Entertainment by 24.5% in the first quarter. GAMMA Investing LLC now owns 3,914 shares of the company's stock worth $511,000 after purchasing an additional 771 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Live Nation Entertainment by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company's stock worth $487,000 after purchasing an additional 154 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Live Nation Entertainment by 10.8% in the first quarter. QRG Capital Management Inc. now owns 17,990 shares of the company's stock worth $2,349,000 after purchasing an additional 1,747 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Live Nation Entertainment by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 18,372 shares of the company's stock worth $2,399,000 after purchasing an additional 490 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Up 2.3%

Shares of LYV opened at $155.15 on Friday. The company has a 50-day simple moving average of $162.24 and a 200-day simple moving average of $148.40. The firm has a market capitalization of $36.38 billion, a P/E ratio of 67.17, a P/E/G ratio of 11.64 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and upped their price target for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They set a "buy" rating and a $195.00 price target for the company. Weiss Ratings restated a "hold (c)" rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Rothschild Redb cut shares of Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a report on Thursday, July 24th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.42.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

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