Live Nation Entertainment, Inc. $LYV Position Raised by Engineers Gate Manager LP

Engineers Gate Manager LP grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 10,428.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 263,524 shares of the company’s stock after purchasing an additional 261,021 shares during the quarter. Live Nation Entertainment accounts for about 0.6% of Engineers Gate Manager LP’s holdings, making the stock its 16th biggest holding. Engineers Gate Manager LP’s holdings in Live Nation Entertainment were worth $48,254,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LYV. Bessemer Group Inc. boosted its position in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after buying an additional 759,363 shares during the period. Geode Capital Management LLC raised its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after acquiring an additional 20,165 shares in the last quarter. Daiichi Life Insurance Co. Ltd. bought a new stake in Live Nation Entertainment during the 2nd quarter valued at $626,000. CenterBook Partners LP boosted its position in Live Nation Entertainment by 780.1% during the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after acquiring an additional 19,627 shares during the period. Finally, Troluce Capital Advisors LLC acquired a new position in shares of Live Nation Entertainment during the first quarter valued at $50,328,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the subject of several research analyst reports. Sanford C. Bernstein upped their price objective on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Roth Capital set a $208.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Susquehanna upped their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Oppenheimer set a $100.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group upped their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $170.43 on Wednesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day moving average is $181.25 and its 200-day moving average is $168.93. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The stock has a market capitalization of $40.16 billion, a P/E ratio of -150.82 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 30th. The company reported $1.05 EPS 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 analyst estimates 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.1 EPS for the current fiscal year.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

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.