Sumitomo Life Insurance Co. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,593 shares of the company's stock, valued at approximately $1,207,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Leonteq Securities AG purchased a new position in Live Nation Entertainment in the 4th quarter worth approximately $25,000. Burkett Financial Services LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $26,000. Kilter Group LLC bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth $27,000. Meeder Asset Management Inc. purchased a new position in Live Nation Entertainment in the second quarter worth $27,000. Finally, Elyxium Wealth LLC purchased a new position in Live Nation Entertainment in the fourth quarter worth $30,000. 74.52% of the stock is owned by hedge funds and other institutional investors.
Live Nation Entertainment Stock Up 0.1%
Shares of NYSE:LYV opened at $182.28 on Friday. The stock has a market capitalization of $42.95 billion, a P/E ratio of -161.31 and a beta of 1.12. The stock's 50-day moving average price is $180.20 and its 200-day moving average price is $166.31. 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, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on LYV shares. Oppenheimer set a $100.00 price target on Live Nation Entertainment in a research report on Tuesday, July 28th. Wells Fargo & Company increased their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Citizens Jmp raised their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a "market outperform" rating in a report on Wednesday, July 22nd. Sanford C. Bernstein boosted their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, BTIG Research reaffirmed a "buy" rating and issued a $215.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $197.19.
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Live Nation Entertainment Profile
(
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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