Equitable Holdings Inc. Makes New Investment in Live Nation Entertainment, Inc. $LYV

Equitable Holdings Inc. acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,549 shares of the company’s stock, valued at approximately $1,016,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of America Corp DE bought a new stake in Live Nation Entertainment in the second quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board bought a new position in shares of Live Nation Entertainment during the 2nd quarter worth approximately $859,018,000. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $285,924,000. Sachem Head Capital Management LP bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $173,380,000. Finally, Jericho Capital Asset Management L.P. lifted its position in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after acquiring an additional 1,099,350 shares during the period. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction that occurred 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 directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LYV shares. Benchmark raised their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Wells Fargo & Company raised their target price 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. Sanford C. Bernstein boosted their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group increased their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Up 0.1%

Live Nation Entertainment stock opened at $180.84 on Friday. The firm has a market capitalization of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12. The firm’s fifty day moving average price is $181.24 and its two-hundred day moving average price is $167.76. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping 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 company 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 firm posted $0.41 earnings per share. The firm’s revenue for the quarter 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 earnings per share for the current fiscal year.

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.