Concourse Capital Management Lowers stake in Live Nation Entertainment (LYV)

Live Nation Entertainment (LYV) : Concourse Capital Management reduced its stake in Live Nation Entertainment by 9.93% during the most recent quarter end. The investment management company now holds a total of 392,483 shares of Live Nation Entertainment which is valued at $8.9 Million after selling 43,252 shares in Live Nation Entertainment , the firm said in a disclosure report filed with the SEC on May 12, 2016.Live Nation Entertainment makes up approximately 5.74% of Concourse Capital Management’s portfolio.

Other Hedge Funds, Including , Fuller Thaler Asset Management sold out all of its stake in LYV during the most recent quarter. The investment firm sold 6,000 shares of LYV which is valued $136,380. Ridgeworth Capital Management sold out all of its stake in LYV during the most recent quarter. The investment firm sold 424 shares of LYV which is valued $9,638. Royce Associates Lp sold out all of its stake in LYV during the most recent quarter. The investment firm sold 68,800 shares of LYV which is valued $1.6 Million.Nationwide Fund Advisors boosted its stake in LYV in the latest quarter, The investment management firm added 7,612 additional shares and now holds a total of 560,200 shares of Live Nation Entertainment which is valued at $13.1 Million. Live Nation Entertainment makes up approx 0.06% of Nationwide Fund Advisors’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in LYV by selling 3,946 shares or 8.95% in the most recent quarter. The Hedge Fund company now holds 40,139 shares of LYV which is valued at $862,186. Live Nation Entertainment makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.

Live Nation Entertainment opened for trading at $22.34 and hit $23.02 on the upside on Friday, eventually ending the session at $22.99, with a gain of 3.33% or 0.74 points. The heightened volatility saw the trading volume jump to 19,11,034 shares. Company has a market cap of $4,665 M.

On the company’s financial health, Live Nation Entertainment reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.28. The company had revenue of $1207.70 million for the quarter, compared to analysts expectations of $1183.59 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.31 EPS.

Many Wall Street Analysts have commented on Live Nation Entertainment. Live Nation Entertainment was Upgraded by Northcoast to ” Buy” on May 2, 2016. Live Nation Entertainment was Initiated by BTIG Research to “Neutral” on Mar 29, 2016.

Live Nation Entertainment Inc. (Live Nation) is a live entertainment company. The Company core businesses consist of the promotion of live events including ticketing sponsorship and advertising and artist management. The Company operates through four segments: segments are Concerts Ticketing Artist Nation and Sponsorship & Advertising. It connects around 519 million fans across its platforms in 33 countries. The Company is a producer of live music concerts around the world that connects nearly 59 million fans to almost 23000 events for over 2700 artists. The Concerts segment is involved in the global promotion of live music events. The Ticketing segment is primarily an agency business that sells tickets for events. The Artist Nation segment is a provider of management services to music artists. The Sponsorship & Advertising segment through a sales force creates and maintains relationships with sponsors to allow businesses to reach customers.

Leave a Reply

Live Nation Entertainment - Is it time to Sell?

Top Brokerage Firms are advising their investors on Live Nation Entertainment. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.