National Pension Service Has $54.36 Million Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• National Pension Service reduced its Live Nation stake by 2.3% in the second quarter, selling 7,116 shares and retaining 296,881 shares valued at approximately $54.36 million.
• Analysts remain broadly bullish, with 20 Buy ratings, three Holds and one Sell; Live Nation has a consensus “Moderate Buy” rating and an average price target of $197.19.
• Live Nation exceeded quarterly expectations, reporting $1.05 in EPS versus the $0.66 consensus and $7.67 billion in revenue, up 9.4% year over year.

National Pension Service decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 296,881 shares of the company's stock after selling 7,116 shares during the quarter. National Pension Service owned about 0.13% of Live Nation Entertainment worth $54,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LYV. Leonteq Securities AG bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC bought a new position in Live Nation Entertainment during the second quarter valued at about $26,000. Kilter Group LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of Live Nation Entertainment during the 2nd quarter worth $27,000. Finally, Transamerica Financial Advisors LLC bought a new position in Live Nation Entertainment during the second quarter worth about $27,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LYV shares. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 31st. Susquehanna lifted 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. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Citigroup lifted their target price on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average price target of $197.19.

Live Nation Entertainment Stock Up 0.0%

Shares of LYV stock opened at $170.14 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The company has a 50 day simple moving average of $180.34 and a two-hundred day simple moving average of $169.07. The stock has a market cap of $40.09 billion, a P/E ratio of -150.57 and a beta of 1.11. 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 (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 analysts' consensus estimates 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 analyst estimates of $7.56 billion. The company's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Brian Capo sold 2,900 shares of the 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 completion of the transaction, the chief accounting officer owned 8,655 shares of the company's stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.89% of the stock is owned by company insiders.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment's live entertainment business and Live Nation.

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