Louisiana State Employees Retirement System Makes New Investment in Live Nation Entertainment, Inc. $LYV

Louisiana State Employees Retirement System bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,000 shares of the company’s stock, valued at approximately $1,220,000.

A number of other institutional investors also recently modified their holdings of LYV. Axxcess Wealth Management LLC boosted its holdings in Live Nation Entertainment by 4.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after buying an additional 75 shares during the period. Vident Advisory LLC raised its holdings in Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after acquiring an additional 75 shares during the period. Prairie Wealth Advisors Inc. raised its holdings in Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after acquiring an additional 80 shares during the period. Sumitomo Life Insurance Co. lifted its position in shares of Live Nation Entertainment by 1.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock worth $972,000 after acquiring an additional 82 shares in the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after acquiring an additional 84 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $186.07 on Friday. The stock’s 50-day simple moving average is $167.83 and its two-hundred day simple moving average is $157.11. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $187.63. The firm has a market capitalization of $43.83 billion, a P/E ratio of -105.13 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citizens Jmp started coverage on Live Nation Entertainment in a report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price objective on the stock. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. Finally, Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.50.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.