Simplex Trading buys $521,837 stake in Live Nation Entertainment (LYV)

Live Nation Entertainment (LYV) : Simplex Trading scooped up 18,064 additional shares in Live Nation Entertainment during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 18,914 shares of Live Nation Entertainment which is valued at $521,837.Live Nation Entertainment makes up approximately 0.07% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in LYV by selling 50,081 shares or 79.38% in the most recent quarter. The Hedge Fund company now holds 13,008 shares of LYV which is valued at $366,305. Washington Trust Bank sold out all of its stake in LYV during the most recent quarter. The investment firm sold 60 shares of LYV which is valued $1,690.

Live Nation Entertainment closed down -0.26 points or -0.93% at $27.59 with 6,33,156 shares getting traded on Friday. Post opening the session at $27.92, the shares hit an intraday low of $27.51 and an intraday high of $27.92 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Live Nation Entertainment reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.05. The company had revenue of $2179.30 million for the quarter, compared to analysts expectations of $1878.33 million. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Many Wall Street Analysts have commented on Live Nation Entertainment. Live Nation Entertainment was Initiated by JP Morgan to “Overweight” on Aug 18, 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.

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