Commerce Bank Acquires New Holdings in Live Nation Entertainment, Inc. $LYV

Commerce Bank acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 15,114 shares of the company’s stock, valued at approximately $2,768,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC increased its position in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after buying an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Live Nation Entertainment by 344.3% during the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after purchasing an additional 1,711 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on LYV shares. Sanford C. Bernstein upped their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Benchmark upped their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Roth Capital set a $208.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $215.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. 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, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Stock Up 1.4%

Shares of LYV opened at $184.37 on Tuesday. The firm has a market cap of $43.44 billion, a P/E ratio of -163.16 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 stock’s 50 day moving average is $180.38 and its two-hundred day moving average is $166.77. 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 announced its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

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.