United Capital Financial Advisors LLC Takes $1.17 Million Position in Live Nation Entertainment, Inc. $LYV

Key Points

• United Capital Financial Advisors acquired 6,409 Live Nation shares worth approximately $1.17 million during the second quarter. Institutional investors collectively own 74.52% of the company.
• Analysts remain broadly positive, with 20 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $197.19.
• Live Nation exceeded quarterly expectations, reporting $1.05 EPS versus $0.66 expected and $7.67 billion in revenue, up 9.4% year over year. Shares opened at $180.84, near their 52-week high of $189.24.

United Capital Financial Advisors LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,409 shares of the company's stock, valued at approximately $1,174,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $27,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Finally, Leonteq Securities AG bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $25,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of a number of recent research reports. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, July 28th. Benchmark upped their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Susquehanna raised their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Wells Fargo & Company upped their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Zacks Research upgraded Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, August 17th. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus price target of $197.19.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company's stock, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Trading Up 0.1%

Shares of LYV opened at $180.84 on Friday. The stock has a fifty day moving average price of $181.24 and a two-hundred day moving average price of $167.76. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $7.56 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

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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