Caledonia Private Investments Pty Ltd purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 585,442 shares of the company's stock, valued at approximately $107,200,000. Live Nation Entertainment comprises approximately 3.7% of Caledonia Private Investments Pty Ltd's holdings, making the stock its 6th biggest position. Caledonia Private Investments Pty Ltd owned 0.25% of Live Nation Entertainment as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Burkett Financial Services LLC purchased a new stake in shares of Live Nation Entertainment during the second quarter valued at $26,000. Kilter Group LLC bought a new position in Live Nation Entertainment during the 2nd quarter valued at about $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at about $27,000. Leonteq Securities AG purchased a new stake in Live Nation Entertainment in the fourth quarter worth approximately $25,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Live Nation Entertainment in the second quarter worth approximately $32,000. Institutional investors own 74.52% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Zacks Research raised Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Sanford C. Bernstein boosted their price target 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. UBS Group increased their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Citizens Jmp boosted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 22nd. Finally, Benchmark increased their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $197.19.
View Our Latest Stock Report on Live Nation Entertainment
Live Nation Entertainment Trading Up 1.4%
Shares of LYV opened at $184.37 on Tuesday. The firm has a market cap of $43.44 billion, a P/E ratio of -163.16 and a beta of 1.12. 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, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The company has a 50 day simple moving average of $180.38 and a two-hundred day simple moving average of $166.77.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share 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 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.
Live Nation Entertainment Company Profile
(
Free Report)
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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