Mystic Asset Management Inc. Buys New Shares in Live Nation Entertainment, Inc. $LYV

Mystic Asset Management 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 and Exchange Commission (SEC). The institutional investor purchased 4,950 shares of the company’s stock, valued at approximately $906,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYV. Kilter Group LLC acquired a new position in Live Nation Entertainment during the second quarter worth $27,000. PCM Encore LLC acquired a new position in shares of Live Nation Entertainment during the 2nd quarter worth about $315,000. Vise Technologies Inc. acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at about $954,000. Asahi Life Asset Management CO. LTD. bought a new position in Live Nation Entertainment during the second quarter worth about $401,000. Finally, Johnson Financial Group Inc. bought a new stake in Live Nation Entertainment in the second quarter valued at approximately $47,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein increased their price target on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a report on Friday, July 31st. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Morgan Stanley boosted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Roth Capital set a $208.00 target price on Live Nation Entertainment in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $181.79 on Friday. 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 stock has a market capitalization of $42.84 billion, a PE ratio of -160.88 and a beta of 1.12. The firm has a 50 day moving average of $180.00 and a 200-day moving average of $166.20. 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 announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal 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.