Legal & General Group Plc Makes New Investment in Live Nation Entertainment, Inc. $LYV

Legal & General Group Plc bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 763,629 shares of the company’s stock, valued at approximately $139,828,000. Legal & General Group Plc owned approximately 0.32% of Live Nation Entertainment at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares during the period. Cerity Partners LLC lifted its stake in shares of Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after buying an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after buying an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 1.4%

Shares of LYV stock opened at $180.14 on Friday. The firm has a market capitalization of $42.45 billion, a P/E ratio of -159.42 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The firm’s fifty day simple moving average is $181.04 and its 200 day simple moving average is $167.67. 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 quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion during 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%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The stock was 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 of the company’s stock, valued at $1,592,520. This trade represents 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. Corporate insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LYV shares. Wells Fargo & Company raised their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citizens Jmp upped their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Citigroup boosted their price objective on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Twenty research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $197.19.

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.