Legal & General Group Plc Makes New Investment in Live Nation Entertainment, Inc. $LYV

Legal & General Group Plc purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 763,629 shares of the company’s stock, valued at approximately $139,828,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $25,000. Burkett Financial Services LLC acquired a new position in Live Nation Entertainment in the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment during the second quarter worth about $27,000. Kilter Group LLC bought a new position in Live Nation Entertainment during the second quarter worth about $27,000. Finally, Elyxium Wealth LLC acquired a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $30,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Down 1.4%

Shares of LYV opened at $180.14 on Friday. The company has a market capitalization of $42.45 billion, a P/E ratio of -159.42 and a beta of 1.12. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The business’s 50 day simple moving average is $181.04 and its 200-day simple moving average is $167.67. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results 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. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the firm posted $0.41 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYV. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a report on Friday, July 31st. Wells Fargo & Company boosted their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Benchmark lifted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $197.19.

Insider Buying and Selling at Live Nation Entertainment

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

Live Nation Entertainment Company 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.