Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by GAMMA Investing LLC

by · The Markets Daily

GAMMA Investing LLC raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 35.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,469 shares of the company’s stock after acquiring an additional 641 shares during the period. GAMMA Investing LLC’s holdings in Live Nation Entertainment were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mystic Asset Management Inc. raised its position in Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares during the period. Czech National Bank lifted its stake in Live Nation Entertainment by 0.5% during the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after acquiring an additional 115 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in Live Nation Entertainment by 3.2% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after acquiring an additional 120 shares during the period. Baker Tilly Wealth Management LLC grew its position in Live Nation Entertainment by 5.4% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after acquiring an additional 130 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its stake in Live Nation Entertainment by 1.2% during the second quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company’s stock worth $1,071,000 after purchasing an additional 130 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $112.69 on Friday. The company has a fifty day moving average of $99.73 and a two-hundred day moving average of $96.83. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $113.88. The company has a market capitalization of $25.89 billion, a PE ratio of 107.32, a P/E/G ratio of 2.46 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. Live Nation Entertainment’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. As a group, analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Macquarie lifted their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America assumed coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.85.

Check Out Our Latest Analysis on Live Nation Entertainment

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 in the last 90 days. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Company Profile

(Free Report)

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

Further Reading

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