Silvant Capital Management LLC Invests $9.18 Million in Live Nation Entertainment, Inc. $LYV

Key Points

• Silvant Capital Management acquired 50,118 Live Nation shares worth approximately $9.18 million in the second quarter. Institutional investors collectively own 74.52% of the company.
• Analysts remain positive, with 20 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $197.19.
• Live Nation beat quarterly expectations, reporting $1.05 in EPS versus $0.66 expected and $7.67 billion in revenue, up 9.4% year over year. Shares opened at $181.79, near their 12-month high of $189.24.

Silvant Capital Management LLC bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 50,118 shares of the company's stock, valued at approximately $9,177,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Leonteq Securities AG acquired a new stake in Live Nation Entertainment during the 4th quarter worth about $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $26,000. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment in the second quarter worth approximately $26,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of several research analyst reports. Sanford C. Bernstein lifted their price objective on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Guggenheim increased their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the company a "buy" rating in a report on Friday, July 31st. Benchmark raised their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. TD Cowen reissued a "buy" rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average price target of $197.19.

Live Nation Entertainment Trading Down 1.3%

Shares of NYSE:LYV opened at $181.79 on Friday. The firm has a fifty day moving average of $180.00 and a two-hundred day moving average of $166.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The firm has a market capitalization of $42.84 billion, a P/E ratio of -160.88 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $0.41 earnings per share. Live Nation Entertainment's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

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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