Bank of New York Mellon Corp Buys New Shares in Live Nation Entertainment, Inc. $LYV

Bank of New York Mellon Corp purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 769,544 shares of the company's stock, valued at approximately $140,911,000. Bank of New York Mellon Corp owned about 0.33% of Live Nation Entertainment at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LYV. Axxcess Wealth Management LLC grew its position in Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company's stock worth $228,000 after buying an additional 75 shares in the last quarter. Vident Advisory LLC raised its holdings in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company's stock valued at $548,000 after acquiring an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. lifted its position in shares of Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company's stock worth $272,000 after acquiring an additional 80 shares during the period. Sumitomo Life Insurance Co. grew its holdings in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company's stock worth $972,000 after purchasing an additional 82 shares in the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Live Nation Entertainment by 37.4% during the fourth quarter. Root Financial Partners LLC now owns 312 shares of the company's stock valued at $44,000 after purchasing an additional 85 shares during the period. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Up 0.3%

Shares of NYSE LYV opened at $182.28 on Monday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The company has a 50-day moving average of $180.20 and a two-hundred day moving average of $166.47. The company has a market cap of $42.95 billion, a PE ratio of -161.31 and a beta of 1.12. 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 (NYSE:LYV - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $7.67 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the topic of a number of analyst reports. Roth Capital set a $208.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Morgan Stanley lifted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. UBS Group upped their price objective on Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Rothschild & Co Redburn increased their target price on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Zacks Research raised Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Monday, August 17th. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source