Callan Family Office LLC Takes Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Callan Family Office LLC purchased 20,221 Live Nation shares worth approximately $3.7 million in the second quarter. Institutional investors own 74.52% of the company.
• Live Nation reported quarterly revenue of $7.67 billion, up 9.4% year over year, and adjusted earnings of $1.05 per share, beating analyst expectations of $0.66.
• Analysts remain broadly bullish, with 20 Buy ratings and four Holds; the stock has an average price target of $197.19 versus its reported opening price of $182.28.

Callan Family Office LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 20,221 shares of the company's stock, valued at approximately $3,703,000.

Other institutional investors also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. bought a new stake in Live Nation Entertainment during the 2nd quarter valued at about $32,000. Allworth Financial LP bought a new position in shares of Live Nation Entertainment in the second quarter worth approximately $176,000. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Live Nation Entertainment in the second quarter worth approximately $2,347,000. Silvant Capital Management LLC bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $9,177,000. Finally, Mystic Asset Management Inc. bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $906,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 0.1%

Shares of LYV stock opened at $182.28 on Friday. 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 12-month low of $125.34 and a 12-month high of $189.24. The stock has a market capitalization of $42.95 billion, a P/E ratio of -161.31 and a beta of 1.12. The firm's 50 day moving average is $180.20 and its 200 day moving average is $166.31.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its 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%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. Research analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LYV. Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a research report on Tuesday, July 28th. Citizens Jmp lifted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $205.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Citigroup lifted their price objective on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $197.19.

Live Nation Entertainment Company Profile

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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