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TD Asset Management Inc Purchases 99,411 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Live Nation Entertainment logo with Consumer Discretionary background

Key Points

  • TD Asset Management Inc increased its stake in Live Nation Entertainment, Inc. by 52.1%, owning 290,149 shares worth approximately $37.9 million, highlighting increased institutional interest in LYV.
  • Insider transactions were noted as EVP John Hopmans sold 34,808 shares for over $5 million, reducing his ownership position by 15.52%.
  • Analysts have a consensus target price of $165.82 for Live Nation Entertainment, with an average rating of "Moderate Buy", suggesting strong growth expectations for the company.
  • MarketBeat previews the top five stocks to own by September 1st.

TD Asset Management Inc increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 52.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 290,149 shares of the company's stock after purchasing an additional 99,411 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of Live Nation Entertainment worth $37,888,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LYV. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at $29,000. Wayfinding Financial LLC bought a new position in Live Nation Entertainment in the first quarter valued at about $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment in the first quarter valued at about $33,000. GW&K Investment Management LLC lifted its stake in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after buying an additional 283 shares during the period. Finally, Private Trust Co. NA lifted its stake in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after buying an additional 196 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 34,808 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.01% of the company's stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $2.10 during midday trading on Friday, reaching $145.60. 763,168 shares of the company traded hands, compared to its average volume of 2,495,588. The stock's 50-day simple moving average is $146.35 and its 200-day simple moving average is $139.39. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment, Inc. has a 12 month low of $87.33 and a 12 month high of $157.75. The firm has a market cap of $33.75 billion, a PE ratio of 49.70, a PEG ratio of 5.92 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company earned $0.60 EPS. The company's revenue was down 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the subject of several research reports. Wolfe Research lifted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Guggenheim reiterated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Rosenblatt Securities cut their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research note on Thursday, July 24th. Finally, Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $165.82.

Get Our Latest Research Report on LYV

Live Nation Entertainment Company Profile

(Free Report)

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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