OMERS ADMINISTRATION Corp purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 193,089 shares of the company’s stock, valued at approximately $35,357,000. OMERS ADMINISTRATION Corp owned about 0.08% of Live Nation Entertainment as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC increased its position in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after acquiring an additional 75 shares during the period. Vident Advisory LLC increased its holdings in Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. increased its holdings in Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after purchasing an additional 80 shares during the period. Sumitomo Life Insurance Co. raised its position in Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after purchasing an additional 82 shares during the last quarter. Finally, Root Financial Partners LLC lifted its holdings in Live Nation Entertainment by 37.4% in the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Sanford C. Bernstein raised their price target on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. BTIG Research reissued a “buy” rating and set a $215.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Finally, Oppenheimer set a $100.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, July 28th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $197.19.
Live Nation Entertainment Trading Up 0.3%
LYV opened at $182.28 on Monday. The stock has a market cap of $42.95 billion, a PE ratio of -161.31 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The business has a 50 day moving average of $180.20 and a 200-day moving average of $166.47. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.
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.
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