Public Employees Retirement System of Ohio purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 45,809 shares of the company’s stock, valued at approximately $8,388,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC lifted its holdings 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 worth $228,000 after buying an additional 75 shares in the last quarter. Vident Advisory LLC increased its holdings in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after acquiring an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. lifted its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of 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 grew its position in shares of Live Nation Entertainment by 37.4% during the fourth quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is owned by insiders.
Live Nation Entertainment Trading Down 0.9%
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently commented on LYV. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Citigroup increased their target price on Live Nation Entertainment from $181.00 to $212.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Roth Capital set a $208.00 price target on shares of Live Nation Entertainment in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.
View Our Latest Research Report on Live Nation Entertainment
Live Nation Entertainment Company Profile
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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