24,829 Shares in Live Nation Entertainment, Inc. $LYV Acquired by Corient Private Wealth LP

Corient Private Wealth LP purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,829 shares of the company’s stock, valued at approximately $4,547,000.

A number of other hedge funds also recently made changes to their positions in the stock. Perennial Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $257,000. Bamco Inc. NY purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth $56,589,000. Bank of America Corp DE acquired a new position in Live Nation Entertainment in the second quarter valued at $1,221,398,000. Jupiter Topco LLC purchased a new stake in Live Nation Entertainment during the second quarter valued at about $1,887,000. Finally, Linonia Partnership LP purchased a new stake in Live Nation Entertainment during the second quarter valued at about $123,250,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LYV shares. Susquehanna raised their price objective 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 increased their target price 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. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Guggenheim increased their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Price Performance

LYV stock opened at $180.04 on Tuesday. The firm has a market cap of $42.42 billion, a P/E ratio of -159.33 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 1 year low of $125.34 and a 1 year high of $189.24. The stock has a 50-day simple moving average of $181.43 and a 200-day simple moving average of $168.12.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

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.