State of Wyoming Takes $1.01 Million Position in Live Nation Entertainment, Inc. $LYV

Key Points

• State of Wyoming initiated a new position in Live Nation Entertainment during Q1, buying 6,651 shares worth about $1.01 million.
• Wall Street sentiment remains broadly positive: several firms raised price targets, and the stock carries a Moderate Buy consensus with a $195 average target price.
• Live Nation reported revenue of $3.79 billion for the latest quarter, beating estimates, but EPS missed expectations by a wide margin; the company also saw notable insider selling by two executive vice presidents.

State of Wyoming bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,651 shares of the company's stock, valued at approximately $1,014,000.

A number of other large investors have also recently bought and sold shares of LYV. Leonteq Securities AG acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $30,000. DV Equities LLC bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at $31,000. Finally, Blue Trust Inc. increased its holdings in Live Nation Entertainment by 62.6% during the fourth quarter. Blue Trust Inc. now owns 278 shares of the company's stock worth $40,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. UBS Group upped their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, June 10th. Roth Capital reissued a "buy" rating and set a $205.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Finally, Zacks Research cut Live Nation Entertainment from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Nineteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.00.

Live Nation Entertainment Trading Up 0.1%

Shares of LYV stock opened at $178.05 on Thursday. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $188.00. The company has a market capitalization of $41.94 billion, a PE ratio of -100.59 and a beta of 1.11. The firm has a 50 day moving average price of $173.20 and a two-hundred day moving average price of $160.74. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business posted ($0.32) EPS. Live Nation Entertainment's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts predict that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares of the company's stock, valued at $33,622,555.84. This represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by company insiders.

Live Nation Entertainment Company Profile

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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