Sanctuary Advisors LLC Invests $3.79 Million in Live Nation Entertainment, Inc. $LYV

Sanctuary Advisors LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,672 shares of the company’s stock, valued at approximately $3,785,000.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Burkett Financial Services LLC acquired a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in Live Nation Entertainment in the second quarter valued at $27,000. Kilter Group LLC bought a new stake in Live Nation Entertainment during the second quarter valued at $27,000. Leonteq Securities AG acquired a new stake in Live Nation Entertainment during the 4th quarter worth about $25,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $32,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Guggenheim upped their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Susquehanna increased their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. UBS Group raised their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Insider Transactions at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Up 1.0%

LYV stock opened at $186.48 on Wednesday. The stock’s 50 day simple moving average is $180.63 and its 200 day simple moving average is $167.08. The company has a market cap of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.