Sanctuary Advisors LLC Makes New $5 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Sanctuary Advisors LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,654 shares of the company’s stock, valued at approximately $4,999,000.

A number of other large investors have also made changes to their positions in LYV. YHB Investment Advisors Inc. acquired a new position in shares of Live Nation Entertainment during the first quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Rise Advisors LLC increased its position in shares of Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares in the last quarter. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter worth $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LYV. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Benchmark reissued a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Bank of America started coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price on the stock. Macquarie reissued an “outperform” rating and issued a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $119.46.

Live Nation Entertainment Trading Up 1.7 %

LYV stock opened at $110.87 on Friday. The company’s 50-day simple moving average is $98.36 and its 200-day simple moving average is $96.65. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $112.00. The firm has a market cap of $25.47 billion, a P/E ratio of 105.59, a PEG ratio of 2.46 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the company earned $1.02 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 in the last ninety days. 2.85% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Company Profile

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.