Equitable Holdings Inc. Takes $1.02 Million Position in Live Nation Entertainment, Inc. $LYV

Equitable Holdings Inc. purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,549 shares of the company’s stock, valued at approximately $1,016,000.

A number of other institutional investors have also added to or reduced their stakes in LYV. Burkett Financial Services LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $27,000. Kilter Group LLC bought a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $27,000. Finally, Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $25,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Up 0.1%

Shares of LYV stock opened at $180.84 on Friday. The company’s fifty day simple moving average is $181.24 and its two-hundred day simple moving average is $167.76. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The stock has a market capitalization of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Insider Buying and Selling

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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYV. The Goldman Sachs Group upped their price objective 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. Susquehanna boosted their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company increased their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Guggenheim raised their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Rothschild & Co Redburn boosted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

About Live Nation Entertainment

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.