Mutual of America Capital Management LLC Boosts Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Mutual of America Capital Management LLC grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) by 3.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,653 shares of the company’s stock after purchasing an additional 641 shares during the period. Mutual of America Capital Management LLC’s holdings in Live Nation Entertainment were worth $1,540,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in Live Nation Entertainment by 505.9% in the first quarter. First Horizon Advisors Inc. now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 172 shares in the last quarter. Fieldpoint Private Securities LLC increased its position in shares of Live Nation Entertainment by 357.1% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 320 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Tortoise Investment Management LLC raised its stake in shares of Live Nation Entertainment by 274.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 337 shares of the company’s stock valued at $28,000 after purchasing an additional 247 shares in the last quarter. CX Institutional bought a new position in shares of Live Nation Entertainment during the second quarter worth about $31,000. Finally, ACG Wealth bought a new stake in Live Nation Entertainment in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 71.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley reduced their target price on Live Nation Entertainment from $110.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 1st. Citigroup lifted their price objective on shares of Live Nation Entertainment from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. StockNews.com raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. The Goldman Sachs Group lowered their price objective on shares of Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Finally, Guggenheim cut their target price on shares of Live Nation Entertainment from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, October 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $111.50.

Live Nation Entertainment Price Performance

NYSE LYV opened at $68.58 on Friday. The company has a 50-day moving average price of $76.75 and a two-hundred day moving average price of $85.60. Live Nation Entertainment, Inc. has a 52 week low of $65.05 and a 52 week high of $126.79. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 97.97 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 12.85.

Insider Transactions at Live Nation Entertainment

In related news, CEO Michael Rapino sold 78,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $92.66, for a total value of $7,227,480.00. Following the sale, the chief executive officer now directly owns 3,711,273 shares in the company, valued at approximately $343,886,556.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 312,000 shares of company stock worth $26,640,900. Company insiders own 4.01% of the company’s stock.

Live Nation Entertainment Company Profile

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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

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