GTS Securities LLC Takes $953,000 Position in Live Nation Entertainment, Inc. $LYV

GTS Securities LLC purchased a new stake in 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 firm purchased 5,206 shares of the company’s stock, valued at approximately $953,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after buying an additional 367,624 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Live Nation Entertainment during the 2nd quarter worth $1,221,398,000. Independent Franchise Partners LLP boosted its position in shares of Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after acquiring an additional 193,104 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at about $859,018,000. Finally, Geode Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Morgan Stanley upped their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a research report on Tuesday, July 28th. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Twenty research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Stock Up 0.1%

Shares of NYSE LYV opened at $180.84 on Friday. 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’s 50 day moving average is $181.24 and its two-hundred day moving average is $167.76. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The firm has a market cap of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business posted $0.41 earnings per share. 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 EPS for the current year.

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.