Canada Pension Plan Investment Board Makes New $859.02 Million Investment in Live Nation Entertainment, Inc. $LYV

Canada Pension Plan Investment Board bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,691,266 shares of the company’s stock, valued at approximately $859,018,000.

A number of other large investors also recently made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of Live Nation Entertainment by 3.3% during the 1st 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 holdings in shares of Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares in the last quarter. Cerity Partners LLC increased its position in shares of Live Nation Entertainment by 6.0% during the second 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 Live Nation Entertainment by 15.9% during the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $533,600.00. Following the completion of the transaction, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Citizens Jmp boosted their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 22nd. Sanford C. Bernstein increased their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $186.48 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average price is $180.63 and its two-hundred day moving average price is $167.08. The firm has a market cap of $43.94 billion, a PE ratio of -165.03 and a beta of 1.12.

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