Live Nation Entertainment, Inc. $LYV Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 5,799.1% in the first quarter, Holdings Channel reports. The institutional investor owned 900,794 shares of the company’s stock after purchasing an additional 885,524 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Live Nation Entertainment were worth $137,380,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LYV. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $25,000. Nvest Wealth Strategies Inc. acquired a new position in Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in Live Nation Entertainment in the fourth quarter valued at approximately $30,000. DV Equities LLC acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $31,000. Finally, Blue Trust Inc. raised its holdings in Live Nation Entertainment by 62.6% during the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the subject of several research analyst reports. Wolfe Research upped their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Citigroup reissued a “market outperform” rating on shares of Live Nation Entertainment in a research report on Wednesday. Guggenheim upped their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rothschild & Co Redburn raised their price objective on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Roth Capital reiterated a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.95.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $177.29 on Friday. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of -100.16 and a beta of 1.11. The company has a 50-day simple moving average of $173.49 and a 200-day simple moving average of $161.07. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last released 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 company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.32) EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post 0.94 EPS for the current year.

Insider Activity at Live Nation Entertainment

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

Live Nation Entertainment Company 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.