Cibc World Market Inc. Invests $2.30 Million in Live Nation Entertainment, Inc. $LYV

Cibc World Market Inc. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,585 shares of the company’s stock, valued at approximately $2,304,000.

Other large investors also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new stake in Live Nation Entertainment in the 2nd quarter worth approximately $35,357,000. Osmosis Investment Management UK Ltd purchased a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $711,000. Sanctuary Advisors LLC acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at $3,785,000. Barbara Oil Co. purchased a new stake in Live Nation Entertainment during the second quarter worth $2,416,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Live Nation Entertainment during the second quarter valued at $97,324,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

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 transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Citizens Jmp raised their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Rothschild & Co Redburn boosted their price target on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Finally, UBS Group increased their price objective on Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Trading Down 2.1%

Shares of LYV opened at $182.81 on Thursday. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The firm has a market capitalization of $43.08 billion, a P/E ratio of -161.78 and a beta of 1.12. The firm has a 50-day moving average price of $180.85 and a 200 day moving average price of $167.40. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.

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