Ameritas Advisory Services LLC Purchases Shares of 6,080 Live Nation Entertainment, Inc. $LYV

Key Points

• Ameritas Advisory Services acquired 6,080 Live Nation shares worth approximately $1.11 million during the second quarter. Institutional investors and hedge funds collectively own 74.52% of the company.
• Live Nation reported quarterly revenue of $7.67 billion and earnings of $1.05 per share, exceeding analyst expectations; revenue increased 9.4% year over year.
• Analysts remain broadly positive, with 20 Buy ratings, a consensus “Moderate Buy” rating, and an average price target of $197.19 versus the reported share price of $169.92.

Ameritas Advisory Services LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,080 shares of the company's stock, valued at approximately $1,113,000.

Several other large investors have also made changes to their positions in the business. Bessemer Group Inc. grew its position in Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock worth $262,733,000 after purchasing an additional 759,363 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock worth $610,707,000 after purchasing an additional 20,165 shares during the period. Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Live Nation Entertainment during the second quarter valued at about $626,000. CenterBook Partners LP lifted its stake in shares of 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 buying an additional 19,627 shares during the period. Finally, Troluce Capital Advisors LLC acquired a new stake in Live Nation Entertainment during the first quarter worth about $50,328,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $169.92 on Friday. The stock's fifty day simple moving average is $180.66 and its 200 day simple moving average is $169.07. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The firm has a market cap of $40.04 billion, a price-to-earnings ratio of -150.37 and a beta of 1.11. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

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 return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company posted $0.41 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on LYV shares. Guggenheim boosted their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, July 31st. BTIG Research reissued a "buy" rating and set a $215.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Wells Fargo & Company boosted their price objective 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. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley raised their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 10th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.19.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Company Profile

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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