25,802 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. 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 Securities and Exchange Commission (SEC). The firm bought 25,802 shares of the company’s stock, valued at approximately $4,710,000.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of 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 acquiring an additional 547 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC grew its holdings in 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 buying an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Live Nation Entertainment by 15.9% during the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after buying an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of 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 buying an additional 1,711 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYV has been the subject of several recent analyst reports. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. 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. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, July 28th. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Finally, Morgan Stanley lifted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Trading Down 0.4%

Shares of Live Nation Entertainment stock opened at $180.84 on Monday. 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 firm has a market cap of $42.61 billion, a PE ratio of -160.04 and a beta of 1.12. The company has a 50 day simple moving average of $181.24 and a two-hundred day simple moving average of $167.90.

Live Nation Entertainment (NYSE:LYV) last issued 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. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal 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 transaction of $533,600.00. Following the sale, 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 SEC, which is available at this hyperlink. 2.89% of the stock is currently owned by corporate insiders.

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.