Cibc World Market Inc. Makes New $2.30 Million Investment in Live Nation Entertainment, Inc. $LYV

Key Points

• CIBC World Markets purchased 12,585 shares of Live Nation Entertainment worth approximately $2.30 million in the second quarter. Institutional investors collectively own 74.52% of the company.
• Live Nation reported quarterly revenue of $7.67 billion and earnings per share of $1.05, exceeding analyst estimates, while revenue increased 9.4% year over year.
• Analysts maintain a bullish outlook, with 20 Buy ratings and four Holds, an average rating of “Moderate Buy,” and a consensus price target of $197.19 versus the stock’s recent $182.81 price.

Cibc World Market Inc. purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,585 shares of the company's stock, valued at approximately $2,304,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in Live Nation Entertainment in the second quarter worth $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $27,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $27,000. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth $25,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Live Nation Entertainment during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insider Buying and Selling

In other news, CAO Brian Capo sold 2,900 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company's stock, valued at $1,592,520. This represents a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.89% of the company's stock.

Live Nation Entertainment Stock Down 2.1%

Shares of LYV stock opened at $182.81 on Thursday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The firm has a market capitalization of $43.08 billion, a PE ratio of -161.78 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50-day simple moving average is $180.85 and its 200-day simple moving average is $167.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $7.56 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citizens Jmp increased their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein upped their price objective on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $197.19.

Live Nation Entertainment 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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