Investment House LLC Acquires New Stake in Live Nation Entertainment, Inc. $LYV

Investment House LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,966 shares of the company’s stock, valued at approximately $1,687,000.

Several other large investors also recently added to or reduced their stakes in LYV. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 3.4% in the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after purchasing an additional 367,624 shares during the period. Bank of America Corp DE bought a new position in Live Nation Entertainment in the 2nd quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board purchased a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $859,018,000. Bessemer Group Inc. grew its stake in Live Nation Entertainment by 25.8% in the 1st quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock valued at $353,690,000 after buying an additional 475,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Live Nation Entertainment by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock valued at $212,502,000 after acquiring an additional 143,432 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LYV. Wells Fargo & Company increased their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $205.00 price target on shares of Live Nation Entertainment in a research report on Friday, July 31st. Morgan Stanley increased their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday. Guggenheim raised their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.95.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $174.74 on Friday. The company’s fifty day moving average price is $174.16 and its 200-day moving average price is $172.07. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $41.17 billion, a price-to-earnings ratio of -154.64 and a beta of 1.17. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. Live Nation Entertainment’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the company’s 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 represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.