7,050 Shares in Live Nation Entertainment, Inc. $LYV Bought by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,050 shares of the company’s stock, valued at approximately $1,291,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Leonteq Securities AG acquired a new position in Live Nation Entertainment during the 4th quarter valued at about $25,000. Nvest Wealth Strategies Inc. purchased a new position in Live Nation Entertainment in the 4th quarter worth $26,000. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment in the second quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment in the 4th quarter worth approximately $30,000. Finally, DV Equities LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $31,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 2.2%

Shares of LYV opened at $184.28 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a market capitalization of $43.42 billion, a P/E ratio of -163.08 and a beta of 1.12. The firm has a 50-day moving average price of $179.13 and a 200 day moving average price of $165.45. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley lifted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Susquehanna boosted their price objective on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Weiss Ratings lowered Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 31st. Finally, Citigroup raised their price objective on Live Nation Entertainment from $181.00 to $212.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment 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.