Live Nation Entertainment, Inc. $LYV Shares Acquired by L2 Asset Management LLC

L2 Asset Management LLC lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 70.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,019 shares of the company’s stock after buying an additional 14,470 shares during the quarter. L2 Asset Management LLC’s holdings in Live Nation Entertainment were worth $5,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LYV. Vanguard Group Inc. grew its position in Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after acquiring an additional 372,715 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after purchasing an additional 1,763,511 shares in the last quarter. Capital World Investors boosted its stake in shares of Live Nation Entertainment by 4.8% in the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after purchasing an additional 237,342 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Live Nation Entertainment by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock valued at $501,911,000 after purchasing an additional 212,592 shares during the period. Finally, Norges Bank acquired a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $198,336,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 2.0%

NYSE LYV opened at $157.05 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $113.20 and a 52 week high of $175.25. The firm has a 50 day moving average of $151.59 and a two-hundred day moving average of $150.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The stock has a market capitalization of $36.88 billion, a PE ratio of -654.39 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares of the company’s stock, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LYV has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Sanford C. Bernstein boosted their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Bank of America increased their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Zacks Research lowered Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.40.

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.