Callan Family Office LLC Purchases 4,405 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Callan Family Office LLC increased its stake in Live Nation Entertainment by 78.6%, acquiring an additional 4,405 shares during the 2nd quarter, bringing its holdings to a total of 10,009 shares worth $1,514,000.
• Analysts have a consensus rating of "Moderate Buy" for Live Nation, with price targets varying from $171.42 to $195.00, indicating positive expectations despite mixed earnings reports.
• Shares of Live Nation Entertainment opened at $153.07, with a market capitalization of $35.89 billion, reflecting year-over-year revenue growth of 16.3%.

Callan Family Office LLC grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 78.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,009 shares of the company's stock after buying an additional 4,405 shares during the period. Callan Family Office LLC's holdings in Live Nation Entertainment were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland State Retirement & Pension System increased its position in Live Nation Entertainment by 4.2% in the second quarter. Maryland State Retirement & Pension System now owns 7,692 shares of the company's stock worth $1,164,000 after purchasing an additional 311 shares during the last quarter. Friedenthal Financial bought a new stake in Live Nation Entertainment in the second quarter worth $905,000. SteelPeak Wealth LLC bought a new stake in Live Nation Entertainment in the second quarter worth $2,682,000. Berger Financial Group Inc increased its position in Live Nation Entertainment by 1.9% in the second quarter. Berger Financial Group Inc now owns 39,463 shares of the company's stock worth $5,970,000 after purchasing an additional 718 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Live Nation Entertainment by 12.7% in the second quarter. QRG Capital Management Inc. now owns 20,279 shares of the company's stock worth $3,068,000 after purchasing an additional 2,289 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LYV. Benchmark boosted their price target on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Live Nation Entertainment in a research note on Wednesday. Citigroup lifted their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Finally, Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $171.42.

Live Nation Entertainment Stock Up 0.2%

Shares of LYV opened at $153.07 on Friday. The firm has a market capitalization of $35.89 billion, a P/E ratio of 66.26, a P/E/G ratio of 14.80 and a beta of 1.40. Live Nation Entertainment, Inc. has a 12-month low of $112.79 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The firm has a fifty day moving average price of $161.92 and a 200-day moving average price of $147.68.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 earnings per share. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

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