North Star Asset Management Inc. Makes New Investment in Live Nation Entertainment, Inc. $LYV

North Star Asset Management Inc. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent filing with the SEC. The fund purchased 81,777 shares of the company’s stock, valued at approximately $14,974,000.

A number of other institutional investors have also modified their holdings of LYV. Axxcess Wealth Management LLC boosted its position in 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 during the period. Vident Advisory LLC increased its position in Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. increased its position in Live Nation Entertainment by 5.0% in the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after buying an additional 80 shares during the period. Sumitomo Life Insurance Co. lifted its stake in Live Nation Entertainment by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after buying an additional 82 shares during the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Live Nation Entertainment by 37.4% during the fourth quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock valued at $44,000 after acquiring an additional 85 shares during the period. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value 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 $1,592,520. This represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Rothschild & Co Redburn upped their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research note on Tuesday, July 28th. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Twenty equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Stock Performance

LYV stock opened at $180.14 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a market capitalization of $42.45 billion, a price-to-earnings ratio of -159.42 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The firm has a 50 day moving average of $181.04 and a two-hundred day moving average of $167.67.

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 net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned $0.41 EPS. Live Nation Entertainment’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS 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.