North Star Asset Management Inc. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 81,777 shares of the company's stock, valued at approximately $14,974,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of LYV. Empowered Funds LLC grew its position in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company's stock valued at $2,269,000 after buying an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company's stock worth $121,000 after buying an additional 109 shares during the last quarter. Cerity Partners LLC raised its position in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company's stock worth $4,160,000 after buying an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company's stock worth $3,983,000 after acquiring an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company's stock valued at $334,000 after acquiring an additional 1,711 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.
Wall Street Analyst Weigh In
LYV has been the subject of several analyst reports. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. BTIG Research reissued a "buy" rating and set a $215.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $197.19.
View Our Latest Research Report on LYV
Insider Activity
In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated Monday, August 24th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.89% of the company's stock.
Live Nation Entertainment Price Performance
Shares of NYSE:LYV opened at $180.14 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The business has a fifty day simple moving average of $181.04 and a 200-day simple moving average of $167.67. 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 company has a market cap of $42.45 billion, a P/E ratio of -159.42 and a beta of 1.12.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its 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 return on equity of 54.61% and a net margin of 0.34%.The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company posted $0.41 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.
Live Nation Entertainment Company 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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