Jefferies Financial Group Inc. purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,475 shares of the company's stock, valued at approximately $2,651,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Bessemer Group Inc. raised its position in Live Nation Entertainment by 70.0% during the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock worth $262,733,000 after buying an additional 759,363 shares during the last quarter. Geode Capital Management LLC increased its position in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock worth $610,707,000 after purchasing an additional 20,165 shares during the period. Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $626,000. CenterBook Partners LP boosted its stake in shares of Live Nation Entertainment by 780.1% in the fourth quarter. CenterBook Partners LP now owns 22,143 shares of the company's stock valued at $3,155,000 after buying an additional 19,627 shares in the last quarter. Finally, Troluce Capital Advisors LLC acquired a new stake in Live Nation Entertainment in the first quarter valued at $50,328,000. Institutional investors own 74.52% of the company's stock.
Insider Transactions at Live Nation Entertainment
In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.89% of the company's stock.
Analysts Set New Price Targets
LYV has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a report on Monday, July 20th. Susquehanna lifted their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Wells Fargo & Company lifted their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Oppenheimer set a $100.00 target price on Live Nation Entertainment in a report on Tuesday, July 28th. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $197.19.
Get Our Latest Stock Report on LYV
Live Nation Entertainment Trading Up 0.1%
Shares of Live Nation Entertainment stock opened at $180.84 on Friday. The business has a 50 day moving average price of $181.24 and a 200 day moving average price of $167.76. The company has a market capitalization of $42.61 billion, a P/E ratio of -160.04 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.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.Live Nation Entertainment's revenue 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. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.
Live Nation Entertainment Profile
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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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