Live Nation Entertainment, Inc. $LYV Shares Purchased by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Live Nation position by 16.6% in the third quarter, purchasing 8,537 shares and bringing its holdings to 59,818 shares valued at approximately $10.1 million. Institutional investors and hedge funds collectively own 74.52% of LYV.
• Analyst sentiment remains positive, with 20 Buy ratings and four Hold ratings. Live Nation has a consensus rating of “Moderate Buy” and an average price target of $197.19.
• Live Nation reported quarterly EPS of $1.05, beating estimates of $0.66, while revenue rose 9.4% year over year to $7.67 billion. Shares opened at $171.19, while Chief Accounting Officer Brian Capo sold 2,900 shares at an average price of $184.

Artemis Investment Management LLP raised its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,818 shares of the company's stock after buying an additional 8,537 shares during the period. Artemis Investment Management LLP's holdings in Live Nation Entertainment were worth $10,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Nissay Asset Management Corp Japan increased its holdings in shares of Live Nation Entertainment by 0.3% in the second quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company's stock valued at $3,858,000 after purchasing an additional 66 shares during the last quarter. MCF Advisors LLC lifted its holdings in Live Nation Entertainment by 7.7% in the second quarter. MCF Advisors LLC now owns 1,188 shares of the company's stock valued at $218,000 after acquiring an additional 85 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Live Nation Entertainment by 1.6% in the second quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company's stock worth $1,041,000 after acquiring an additional 89 shares during the period. L2 Asset Management LLC increased its stake in Live Nation Entertainment by 0.3% during the fourth quarter. L2 Asset Management LLC now owns 35,116 shares of the company's stock worth $5,004,000 after acquiring an additional 97 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Live Nation Entertainment by 1.9% during the first quarter. Arkadios Wealth Advisors now owns 5,361 shares of the company's stock worth $818,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Buying and Selling

In other news, CAO Brian Capo sold 2,900 shares of the firm'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 completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This trade 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 this hyperlink. Insiders own 2.89% of the company's stock.

Analyst Ratings Changes

LYV has been the subject of a number of research analyst reports. Citizens Jmp increased their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "market outperform" rating in a research report on Wednesday, July 22nd. Citigroup restated a "market outperform" rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Wells Fargo & Company raised their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. TD Cowen reaffirmed a "buy" rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Finally, Susquehanna boosted their price objective on Live Nation Entertainment from $186.00 to $187.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.19.

Live Nation Entertainment Trading Up 0.2%

NYSE LYV opened at $171.19 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a 50 day moving average of $176.32 and a two-hundred day moving average of $170.68. The stock has a market capitalization of $40.34 billion, a PE ratio of -151.50 and a beta of 1.17. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.12 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes concerts and other live events, operates entertainment venues, and provides ticketing services. Its activities span the live event ecosystem, from artist and event promotion to ticket sales, venue management, sponsorship, and advertising.

The company's business includes Live Nation Concerts, which produces and promotes tours, festivals, and other events; Ticketmaster, a ticketing platform serving venues, event organizers, and fans; and a portfolio of owned, operated, or managed venues.

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