15,114 Shares in Live Nation Entertainment, Inc. $LYV Bought by Commerce Bank

Key Points

• Commerce Bank acquired 15,114 shares of Live Nation Entertainment during the second quarter, valued at approximately $2.77 million. Hedge funds and other institutional investors collectively own 74.52% of the company.
• Live Nation reported quarterly revenue of $7.67 billion, up 9.4% year over year, and earnings per share of $1.05, beating analysts’ $0.66 consensus estimate.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $197.19; shares recently opened at $184.37.

Commerce Bank acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,114 shares of the company's stock, valued at approximately $2,768,000.

Several other large investors have also recently made changes to their positions in LYV. Bessemer Group Inc. grew its position in Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock valued at $262,733,000 after buying an additional 759,363 shares during the period. Geode Capital Management LLC raised its position in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock worth $610,707,000 after acquiring an additional 20,165 shares during the period. CenterBook Partners LP boosted its stake in Live Nation Entertainment by 780.1% in the fourth quarter. CenterBook Partners LP now owns 22,143 shares of the company's stock valued at $3,155,000 after acquiring an additional 19,627 shares during the last quarter. Troluce Capital Advisors LLC bought a new position in shares of Live Nation Entertainment during the 1st quarter valued at approximately $50,328,000. Finally, ProShare Advisors LLC lifted its stake in Live Nation Entertainment by 45.0% in the fourth quarter. ProShare Advisors LLC now owns 41,642 shares of the company's stock valued at $5,934,000 after purchasing an additional 12,916 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 1.4%

Shares of Live Nation Entertainment stock opened at $184.37 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a market cap of $43.44 billion, a P/E ratio of -163.16 and a beta of 1.12. The company's fifty day simple moving average is $180.38 and its two-hundred day simple moving average is $166.77. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data 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. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Analysts Set New Price Targets

LYV has been the subject of several recent research reports. BTIG Research reissued a "buy" rating and issued a $215.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. TD Cowen reissued a "buy" rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Susquehanna lifted their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, Citigroup increased their price objective on Live Nation Entertainment from $181.00 to $212.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $197.19.

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.

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