Canada Pension Plan Investment Board Buys New Shares in Live Nation Entertainment, Inc. $LYV

Canada Pension Plan Investment Board purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent filing with the SEC. The firm purchased 4,691,266 shares of the company’s stock, valued at approximately $859,018,000. Canada Pension Plan Investment Board owned 1.99% of Live Nation Entertainment at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Axxcess Wealth Management LLC boosted its position in shares of Live Nation Entertainment by 4.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after purchasing an additional 75 shares in the last quarter. Vident Advisory LLC lifted its stake in Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. boosted its holdings in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after buying an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock worth $972,000 after buying an additional 82 shares in the last quarter. Finally, Root Financial Partners LLC grew its position in shares of Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LYV. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Susquehanna lifted their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. UBS Group raised their target price on Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $186.48 on Wednesday. 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 fifty day simple moving average of $180.63 and a two-hundred day simple moving average of $167.08. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The firm has a market capitalization of $43.94 billion, a PE ratio of -165.03 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. Analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.