EFG International AG Buys Shares of 50,016 Live Nation Entertainment, Inc. $LYV

EFG International AG purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 50,016 shares of the company’s stock, valued at approximately $9,158,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYV. Bessemer Group Inc. grew its stake in Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after buying an additional 20,165 shares during the last quarter. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $626,000. CenterBook Partners LP grew 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 worth $3,155,000 after buying an additional 19,627 shares during the last quarter. Finally, Troluce Capital Advisors LLC bought a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $50,328,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $186.48 on Wednesday. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. 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 firm has a market cap of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12. The business’s 50 day moving average price is $180.63 and its 200 day moving average price is $167.08.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating 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 business had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Analyst Ratings Changes

LYV has been the subject of several recent analyst reports. Sanford C. Bernstein raised their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. UBS Group increased their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Guggenheim upped their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment 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 completion of the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.89% of the company’s stock.

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.