9,450 Shares of Live Nation Entertainment, Inc. $LYV Bought by Cordatus Wealth Management LLC

Key Points

• Cordatus Wealth Management acquired 9,450 Live Nation shares worth approximately $1.6 million during the third quarter, while institutional investors collectively own 74.52% of the company.
• Analysts remain broadly optimistic, with 20 Buy ratings, an overall “Moderate Buy” consensus, and an average price target of $198.14 versus the stock’s $170.97 opening price.
• Live Nation exceeded quarterly expectations, reporting $1.05 in EPS versus $0.66 expected and $7.67 billion in revenue, up 9.4% year over year; an insider separately sold shares valued at $533,600.

Cordatus Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,450 shares of the company's stock, valued at approximately $1,600,000.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC grew its position in Live Nation Entertainment by 10.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,067 shares of the company's stock worth $519,000 after purchasing an additional 285 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Live Nation Entertainment by 253.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 374,747 shares of the company's stock valued at $63,445,000 after purchasing an additional 268,710 shares during the period. Ninety One UK Ltd purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at $38,000. Contravisory Investment Management Inc. lifted its holdings in shares of Live Nation Entertainment by 1,468.8% in the third quarter. Contravisory Investment Management Inc. now owns 7,781 shares of the company's stock valued at $1,317,000 after purchasing an additional 7,285 shares in the last quarter. Finally, Terra Nova Asset Management LLC acquired a new stake in shares of Live Nation Entertainment in the third quarter worth $263,000. Institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Citizens Jmp increased their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research note on Tuesday, July 28th. Finally, UBS Group upped their target price on Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a report on Monday, July 20th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $198.14.

Live Nation Entertainment Stock Up 0.3%

Live Nation Entertainment stock opened at $170.97 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. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The firm's fifty day simple moving average is $174.79 and its 200-day simple moving average is $171.65. The company has a market capitalization of $40.29 billion, a P/E ratio of -151.30 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to analysts' expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the firm's 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 transaction, the chief accounting officer directly owned 8,655 shares of the company's stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.89% of the company's stock.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.

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