BB&T Corp Has $6.03 Million Position in Live Nation Entertainment, Inc. (LYV)

BB&T Corp raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 173,079 shares of the company’s stock after buying an additional 3,821 shares during the period. BB&T Corp owned 0.08% of Live Nation Entertainment worth $6,031,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LYV. Russell Investments Group Ltd. bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $1,026,000. Credit Agricole S A bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $115,000. Norges Bank bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $35,629,000. Quadrature Capital Ltd bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $1,984,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Live Nation Entertainment by 43.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 175,571 shares of the company’s stock valued at $4,671,000 after buying an additional 53,278 shares during the period. 65.62% of the stock is currently owned by institutional investors.

Live Nation Entertainment, Inc. (NYSE LYV) traded down 1.69% during trading on Friday, hitting $38.38. 3,157,964 shares of the stock traded hands. The firm has a 50-day moving average price of $36.77 and a 200 day moving average price of $32.95. Live Nation Entertainment, Inc. has a 12 month low of $25.56 and a 12 month high of $42.20. The firm has a market cap of $7.87 billion, a PE ratio of 5482.86 and a beta of 1.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The company’s revenue was up 29.3% compared to the same quarter last year. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post $0.22 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/19/live-nation-entertainment-inc-lyv-position-boosted-by-bbt-corp-updated-updated-updated.html.

Several analysts have commented on LYV shares. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Tuesday, May 9th. BidaskClub lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Stephens restated an “overweight” rating and issued a $44.00 price objective (up from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Jefferies Group LLC restated a “buy” rating and issued a $33.00 price objective on shares of Live Nation Entertainment in a report on Monday, April 24th. Finally, Macquarie restated an “outperform” rating and issued a $38.00 price objective on shares of Live Nation Entertainment in a report on Sunday, May 14th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Live Nation Entertainment currently has an average rating of “Buy” and a consensus target price of $38.75.

In related news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total transaction of $697,200.00. Following the completion of the sale, the chief financial officer now owns 286,216 shares of the company’s stock, valued at $9,977,489.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Ted Enloe III sold 6,337 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $35.82, for a total transaction of $226,991.34. Following the sale, the director now directly owns 23,450 shares of the company’s stock, valued at approximately $839,979. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by corporate insiders.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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

Receive News & Ratings for Live Nation Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply