Toronto Dominion Bank Sells 3,368 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

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Toronto Dominion Bank decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,046 shares of the company’s stock after selling 3,368 shares during the period. Toronto Dominion Bank’s holdings in Live Nation Entertainment were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LYV. Natixis purchased a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $1,074,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Live Nation Entertainment by 21.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,067 shares of the company’s stock valued at $270,000 after purchasing an additional 705 shares during the last quarter. United Services Automobile Association grew its holdings in Live Nation Entertainment by 16.5% during the 2nd quarter. United Services Automobile Association now owns 137,577 shares of the company’s stock valued at $9,114,000 after purchasing an additional 19,469 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Live Nation Entertainment by 57.0% during the 2nd quarter. Voloridge Investment Management LLC now owns 118,791 shares of the company’s stock valued at $7,870,000 after purchasing an additional 43,106 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in Live Nation Entertainment by 17.2% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 128,208 shares of the company’s stock valued at $8,494,000 after purchasing an additional 18,826 shares during the last quarter. 69.09% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Michael Rowles sold 67,840 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $71.71, for a total value of $4,864,806.40. Following the completion of the sale, the executive vice president now owns 257,691 shares of the company’s stock, valued at approximately $18,479,021.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.82% of the stock is currently owned by corporate insiders.

LYV has been the topic of several analyst reports. Guggenheim upped their price target on shares of Live Nation Entertainment from $80.00 to $84.00 in a report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $84.00 target price on the stock. ValuEngine downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Atlantic Securities assumed coverage on shares of Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Live Nation Entertainment has a consensus rating of “Buy” and a consensus target price of $72.30.

Shares of LYV traded up $0.36 during mid-day trading on Wednesday, hitting $67.93. The company’s stock had a trading volume of 384 shares, compared to its average volume of 1,154,558. The company’s 50-day moving average is $69.14 and its 200-day moving average is $66.96. Live Nation Entertainment, Inc. has a 52-week low of $46.02 and a 52-week high of $73.71. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of -755.14 and a beta of 1.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.73.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Live Nation Entertainment had a net margin of 0.55% and a return on equity of 4.49%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.28 earnings per share for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing 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; and produces music festivals and creates associated content.

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

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