Connor Clark & Lunn Investment Management Ltd. Invests $97.32 Million in Live Nation Entertainment, Inc. $LYV

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 531,508 shares of the company’s stock, valued at approximately $97,324,000.

Other large investors have also recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in Live Nation Entertainment during the second quarter worth about $26,000. Meeder Asset Management Inc. purchased a new position in shares of Live Nation Entertainment during the second quarter worth about $27,000. Kilter Group LLC bought a new position in shares of Live Nation Entertainment in the second quarter worth approximately $27,000. Leonteq Securities AG purchased a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $25,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Live Nation Entertainment during the second quarter valued at approximately $32,000. 74.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Benchmark lifted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Rothschild & Co Redburn upped their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $182.28 on Monday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The company has a fifty day moving average of $180.20 and a 200-day moving average of $166.47. The stock has a market capitalization of $42.95 billion, a price-to-earnings ratio of -161.31 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted 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. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Live Nation Entertainment 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.