Northwestern Mutual Wealth Management Co. Makes New Investment in Live Nation Entertainment, Inc. $LYV

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,255 shares of the company’s stock, valued at approximately $962,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Live Nation Entertainment during the fourth quarter worth $285,924,000. Sachem Head Capital Management LP acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $173,380,000. Jericho Capital Asset Management L.P. boosted its stake in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after acquiring an additional 1,099,350 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of Live Nation Entertainment during the 2nd quarter valued at about $195,781,000. Finally, First Trust Advisors LP raised its stake in shares of Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after acquiring an additional 1,033,289 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Susquehanna boosted their price objective on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. UBS Group raised their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $186.48 on Wednesday. The stock has a 50 day moving average of $180.63 and a two-hundred day moving average of $167.08. 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, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The company has a market capitalization of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping 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 company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The shares were 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 directly owned 8,655 shares of the company’s stock, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.89% of the stock is owned by company 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.