GTS Securities LLC Takes $953,000 Position in Live Nation Entertainment, Inc. $LYV

GTS Securities LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, HoldingsChannel.com reports. The firm bought 5,206 shares of the company’s stock, valued at approximately $953,000.

Several other large investors also recently bought and sold shares of LYV. Bessemer Group Inc. increased its stake in shares of Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after buying an additional 759,363 shares during the period. Geode Capital Management LLC lifted its stake in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares during the last quarter. Daiichi Life Insurance Co. Ltd. acquired a new position in Live Nation Entertainment during the 2nd quarter worth approximately $626,000. CenterBook Partners LP increased its position in shares of Live Nation Entertainment by 780.1% in the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock valued at $3,155,000 after purchasing an additional 19,627 shares during the last quarter. Finally, Troluce Capital Advisors LLC purchased a new stake in shares of Live Nation Entertainment in the 1st quarter valued at approximately $50,328,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYV. Sanford C. Bernstein lifted their price objective on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research 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 report on Thursday, July 9th. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. UBS Group lifted their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Susquehanna upped their price objective on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Stock Up 0.1%

Shares of NYSE:LYV opened at $180.84 on Friday. The firm has a 50 day simple moving average of $181.24 and a 200-day simple moving average of $167.76. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve 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. The company has a market capitalization of $42.61 billion, a PE ratio of -160.04 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 EPS 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 firm had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.89% of the stock is owned by corporate insiders.

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.