Acadian Asset Management LLC Takes $419,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Acadian Asset Management LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,472 shares of the company’s stock, valued at approximately $419,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Czech National Bank grew its stake in Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Live Nation Entertainment by 44.1% during 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. Baker Tilly Wealth Management LLC raised its position in Live Nation Entertainment by 5.4% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after purchasing an additional 130 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of Live Nation Entertainment by 1.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company’s stock worth $1,071,000 after buying an additional 130 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Live Nation Entertainment by 4.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,108 shares of the company’s stock worth $291,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.1 %

Live Nation Entertainment stock opened at $102.80 on Thursday. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $107.24. The stock has a market cap of $23.62 billion, a PE ratio of 97.90, a price-to-earnings-growth ratio of 2.29 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. The stock has a 50-day moving average of $95.19 and a two-hundred day moving average of $96.01.

Live Nation Entertainment (NYSE:LYV) last released its 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 analyst estimates of $6.02 billion. During the same quarter last year, the business earned $1.02 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 over the last ninety days. 2.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on LYV shares. Bank of America assumed coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Benchmark reiterated a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Macquarie reissued an “outperform” rating and issued a $125.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Finally, Oppenheimer increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.46.

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.