USS Investment Management Ltd Buys 3,840 Shares of Live Nation Entertainment, Inc. $LYV

USS Investment Management Ltd increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,256 shares of the company’s stock after buying an additional 3,840 shares during the period. USS Investment Management Ltd’s holdings in Live Nation Entertainment were worth $4,311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd grew its holdings in shares of Live Nation Entertainment by 3.3% during the 1st quarter. IFM Investors Pty Ltd now owns 30,879 shares of the company’s stock worth $4,709,000 after acquiring an additional 986 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $9,864,000. Apollon Wealth Management LLC lifted its stake in shares of Live Nation Entertainment by 30.1% in the 1st quarter. Apollon Wealth Management LLC now owns 2,173 shares of the company’s stock valued at $331,000 after purchasing an additional 503 shares during the period. Kenora Financial LLC boosted its position in shares of Live Nation Entertainment by 4.8% during the first quarter. Kenora Financial LLC now owns 5,095 shares of the company’s stock valued at $777,000 after purchasing an additional 235 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd purchased a new stake in Live Nation Entertainment in the first quarter worth $26,353,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.3%

Shares of Live Nation Entertainment stock opened at $186.07 on Friday. The company has a 50-day simple moving average of $167.83 and a two-hundred day simple moving average of $157.11. The stock has a market capitalization of $43.83 billion, a PE ratio of -105.13 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $187.63. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the subject of several recent research reports. Wolfe Research raised their price objective on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $190.00 to $192.00 in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.89% of the company’s stock.

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.