Landscape Capital Management L.L.C. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 51,024 shares of the company’s stock, valued at approximately $3,380,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sawtooth Solutions LLC grew its holdings in shares of Live Nation Entertainment by 12.0% during the 2nd quarter. Sawtooth Solutions LLC now owns 5,616 shares of the company’s stock worth $372,000 after purchasing an additional 600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Live Nation Entertainment by 8.9% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,332 shares of the company’s stock valued at $1,347,000 after buying an additional 1,656 shares in the last quarter. Banco Santander S.A. acquired a new stake in Live Nation Entertainment in the second quarter valued at about $2,168,000. Janus Henderson Group PLC boosted its stake in Live Nation Entertainment by 3.7% in the second quarter. Janus Henderson Group PLC now owns 1,374,173 shares of the company’s stock valued at $91,045,000 after buying an additional 48,815 shares in the last quarter. Finally, Axel Capital Management LLC acquired a new stake in Live Nation Entertainment in the second quarter valued at about $3,114,000. 69.59% of the stock is owned by institutional investors.
In other news, Director Robert Ted Enloe III sold 5,447 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $62.45, for a total transaction of $340,165.15. Following the completion of the transaction, the director now directly owns 67,886 shares in the company, valued at $4,239,480.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Rowles sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $63.14, for a total value of $4,283,417.60. The disclosure for this sale can be found here. Company insiders own 4.82% of the company’s stock.
Shares of LYV stock traded up $0.16 during mid-day trading on Thursday, reaching $69.22. 30,544 shares of the stock traded hands, compared to its average volume of 1,001,661. The business has a fifty day moving average price of $70.14. Live Nation Entertainment, Inc. has a 1-year low of $46.02 and a 1-year high of $73.71. The stock has a market capitalization of $14.72 billion, a P/E ratio of -763.44 and a beta of 1.11. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.93 and a current ratio of 0.93.
Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts expect that Live Nation Entertainment, Inc. will post 0.28 EPS for the current fiscal year.
Several analysts recently weighed in on LYV shares. Atlantic Securities started coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 price objective on the stock. ValuEngine raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Citigroup lowered Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price objective on the stock. in a research note on Friday, June 28th. Finally, Berenberg Bank started coverage on Live Nation Entertainment in a research note on Tuesday, May 14th. They issued a “buy” rating and a $73.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment has an average rating of “Buy” and a consensus target price of $68.57.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
Further Reading: Buy Rating
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