Korea Investment CORP Makes New $8.46 Million Investment in Live Nation Entertainment, Inc. $LYV

Key Points

• Korea Investment CORP purchased 46,210 shares of Live Nation Entertainment valued at approximately $8.46 million during the second quarter. Institutional investors collectively own 74.52% of the company.
• Live Nation exceeded quarterly expectations, reporting $1.05 in earnings per share versus the $0.66 consensus estimate and $7.67 billion in revenue, up 9.4% year over year.
• Analysts remain broadly positive, with 20 Buy ratings and four Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $197.19.

Korea Investment CORP purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,210 shares of the company's stock, valued at approximately $8,462,000.

Several other institutional investors have also recently made changes to their positions in LYV. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company's stock worth $1,692,151,000 after acquiring an additional 367,624 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Live Nation Entertainment by 3.5% during the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company's stock worth $817,055,000 after purchasing an additional 193,104 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Live Nation Entertainment by 0.5% in the fourth 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 last quarter. Jericho Capital Asset Management L.P. raised its stake in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock valued at $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. Finally, Cantillon Capital Management LLC raised its stake in Live Nation Entertainment by 0.8% in the fourth quarter. Cantillon Capital Management LLC now owns 2,797,205 shares of the company's stock valued at $398,602,000 after purchasing an additional 21,246 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $184.37 on Tuesday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The company has a fifty day moving average of $180.38 and a 200-day moving average of $166.77. The stock has a market capitalization of $43.44 billion, a price-to-earnings ratio of -163.16 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted 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. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research reports. Susquehanna boosted their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Citizens Jmp raised their price target on 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, Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a report on Tuesday, July 28th. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus price target of $197.19.

About Live Nation Entertainment

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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