Brown Brothers Harriman & Co. Has $103,000 Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Brown Brothers Harriman & Co. increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1,738.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,103 shares of the company’s stock after acquiring an additional 1,043 shares during the period. Brown Brothers Harriman & Co.’s holdings in Live Nation Entertainment were worth $103,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LYV. YHB Investment Advisors Inc. purchased a new stake in shares of Live Nation Entertainment in the first quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Rise Advisors LLC lifted its stake in Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 in the last three months. 2.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on LYV. Roth Mkm reiterated a “buy” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Friday, May 24th. Macquarie reiterated an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Bank of America started coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.46.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $102.80 on Thursday. The firm’s 50 day moving average is $95.19 and its 200 day moving average is $96.01. The stock has a market capitalization of $23.62 billion, a P/E ratio of 97.90, a PEG ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the company posted $1.02 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

About Live Nation Entertainment

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.