EFG International AG Invests $9.16 Million in Live Nation Entertainment, Inc. $LYV

EFG International AG bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,016 shares of the company’s stock, valued at approximately $9,158,000.

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

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the firm’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 of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $186.48 on Wednesday. The company has a market capitalization of $43.94 billion, a price-to-earnings ratio of -165.03 and a beta of 1.12. The firm’s 50-day moving average is $180.63 and its 200 day moving average is $167.08. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month 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 issued its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $7.56 billion. During the same period last year, the company earned $0.41 EPS. Live Nation Entertainment’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LYV. Benchmark raised their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company increased their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price 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. Susquehanna boosted 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 report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

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.