Saudi Central Bank raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 83.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,979 shares of the company’s stock after buying an additional 4,979 shares during the period. Saudi Central Bank’s holdings in Live Nation Entertainment were worth $2,010,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Angeles Wealth Management LLC purchased a new position in Live Nation Entertainment in the second quarter worth $232,000. TD Waterhouse Canada Inc. raised its position in Live Nation Entertainment by 8.6% during the second quarter. TD Waterhouse Canada Inc. now owns 1,814 shares of the company’s stock valued at $334,000 after purchasing an additional 143 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Live Nation Entertainment by 10.1% during the second quarter. Concurrent Investment Advisors LLC now owns 2,064 shares of the company’s stock worth $378,000 after purchasing an additional 190 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $833,000. Finally, Nykredit A S bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at about $14,855,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.
Live Nation Entertainment Stock Up 0.0%
NYSE:LYV opened at $173.51 on Tuesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average price is $181.51 and its 200-day moving average price is $168.83. The company has a market capitalization of $40.88 billion, a PE ratio of -153.55 and a beta of 1.11. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. Guggenheim raised their price objective on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Susquehanna lifted 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. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.19.
Read Our Latest Research Report on LYV
Insider Activity
In related news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.89% of the company’s stock.
About Live Nation Entertainment
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.
Featured Articles
- Five stocks we like better than Live Nation Entertainment
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.
