Pentwater Capital Management LP purchased a new position in 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 firm purchased 35,000 shares of the company's stock, valued at approximately $3,281,000.
A number of other large investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new stake in shares of Live Nation Entertainment in the 1st quarter worth about $32,000. Rise Advisors LLC lifted its position in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company's stock worth $35,000 after purchasing an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. Lindbrook Capital LLC lifted its position in shares of Live Nation Entertainment by 44.1% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company's stock worth $41,000 after purchasing an additional 119 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company's stock worth $41,000 after purchasing an additional 176 shares during the period. Institutional investors own 74.52% of the company's stock.
Insider Activity at Live Nation Entertainment
In related news, CAO Brian Capo sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company's stock, valued at $5,626,742.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,201 shares of company stock worth $788,464. 2.85% of the stock is owned by company insiders.
Live Nation Entertainment Stock Performance
Shares of LYV stock traded up $0.94 during trading hours on Friday, reaching $97.67. The company had a trading volume of 1,136,616 shares, compared to its average volume of 2,118,274. The business has a fifty day moving average price of $94.31 and a 200-day moving average price of $95.65. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $107.24. The firm has a market cap of $22.44 billion, a PE ratio of 93.02, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
LYV has been the subject of several research analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Northcoast Research cut shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 28th. Morgan Stanley reissued an "overweight" rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Redburn Atlantic raised shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating and lifted their price target for the company from $114.00 to $115.00 in a research report on Thursday, May 9th. Finally, Macquarie reissued an "outperform" rating and set a $125.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.17.
Read Our Latest Analysis 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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