Quantitative Investment Management LLC Purchases Shares of 4,502 Live Nation Entertainment, Inc. $LYV

Quantitative Investment Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,502 shares of the company’s stock, valued at approximately $824,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Leonteq Securities AG bought a new stake in Live Nation Entertainment in the fourth quarter worth $25,000. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth $26,000. Kilter Group LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at about $27,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at about $27,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a research report on Friday, July 31st. Sanford C. Bernstein raised their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Morgan Stanley boosted their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Finally, TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value 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 owned by company insiders.

Live Nation Entertainment Stock Down 1.3%

Shares of NYSE LYV opened at $177.49 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The firm has a 50-day simple moving average of $181.61 and a two-hundred day simple moving average of $168.31. The company has a market cap of $41.82 billion, a P/E ratio of -157.07 and a beta of 1.11. 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 (NYSE:LYV) last issued its quarterly earnings results 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 firm 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 business posted $0.41 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share 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.