309,044 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Bamco Inc. NY

Bamco Inc. NY bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 309,044 shares of the company's stock, valued at approximately $56,589,000. Bamco Inc. NY owned approximately 0.13% of Live Nation Entertainment at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in Live Nation Entertainment during the second quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $859,018,000. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $285,924,000. Sachem Head Capital Management LP purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $173,380,000. Finally, Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The stock was 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 directly owned 8,655 shares in the company, 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 the SEC website. Company insiders own 2.89% of the company's stock.

Live Nation Entertainment Trading Down 2.1%

NYSE LYV opened at $182.81 on Thursday. The firm has a market capitalization of $43.08 billion, a price-to-earnings ratio of -161.78 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 one year low of $125.34 and a one year high of $189.24. The company's 50 day moving average price is $180.85 and its 200 day moving average price is $167.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. Live Nation Entertainment's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LYV shares. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Citigroup upped their price objective on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Sanford C. Bernstein increased their price objective on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Guggenheim boosted their target price on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and an average price target of $197.19.

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.

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