6,089 Shares in Live Nation Entertainment, Inc. $LYV Acquired by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd acquired 6,089 shares of Live Nation Entertainment worth approximately $1.115 million during the second quarter. Institutional investors and hedge funds collectively own 74.52% of the company.
• Live Nation reported quarterly EPS of $1.05, exceeding analyst expectations of $0.66, while revenue rose 9.4% year over year to $7.67 billion.
• Analysts maintain a largely positive outlook, with 20 Buy ratings, an overall “Moderate Buy” consensus, and an average price target of $197.19 versus the stock’s reported $170.14 price.

WINTON GROUP Ltd purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,089 shares of the company's stock, valued at approximately $1,115,000.

Other large investors have also modified their holdings of the company. Engineers Gate Manager LP grew its position in shares of Live Nation Entertainment by 10,428.3% during the second quarter. Engineers Gate Manager LP now owns 263,524 shares of the company's stock worth $48,254,000 after acquiring an additional 261,021 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in Live Nation Entertainment by 8.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,590 shares of the company's stock valued at $291,000 after purchasing an additional 128 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Live Nation Entertainment during the 2nd quarter worth $213,000. Maven Securities LTD acquired a new stake in Live Nation Entertainment during the 2nd quarter worth $2,283,000. Finally, IFP Advisors Inc grew its position in Live Nation Entertainment by 81.8% during the 2nd quarter. IFP Advisors Inc now owns 520 shares of the company's stock worth $95,000 after purchasing an additional 234 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Down 0.0%

NYSE LYV opened at $170.14 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock has a market capitalization of $40.09 billion, a P/E ratio of -150.57 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The firm has a 50-day moving average price of $180.34 and a 200 day moving average price of $169.15.

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, beating analysts' consensus estimates of $0.66 by $0.39. The company 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%.The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Wells Fargo & Company boosted their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Sanford C. Bernstein lifted their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average target price of $197.19.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment's live entertainment business and Live Nation.

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