Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 85.0% during the second quarter, Holdings Channel reports. The firm owned 1,038,285 shares of the company’s stock after acquiring an additional 476,981 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Live Nation Entertainment were worth $97,329,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new position in Live Nation Entertainment during the first quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Rise Advisors LLC raised its stake in shares of Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after acquiring an additional 119 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $102.80 on Thursday. The stock’s 50-day moving average is $95.19 and its two-hundred day moving average is $96.01. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 97.90, a PEG ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. 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) last issued its quarterly earnings data 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). The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS. Analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LYV shares. Bank of America started coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Macquarie reissued an “outperform” rating and issued a $125.00 target price on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Oppenheimer increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, Benchmark reissued a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.46.

Insider Buying and Selling

In related news, CFO Joe Berchtold sold 29,310 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 transaction of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at $55,255,395. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the sale, the director now owns 15,128 shares in the company, valued at $1,460,759.68. The sale was disclosed in a legal filing with the SEC, which is available 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 sale, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. 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 over the last quarter. 2.85% of the stock is currently owned by 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.