Canada Pension Plan Investment Board Raises Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Canada Pension Plan Investment Board lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,722,620 shares of the company’s stock after purchasing an additional 155,920 shares during the quarter. Live Nation Entertainment makes up 0.8% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 22nd biggest holding. Canada Pension Plan Investment Board owned about 3.80% of Live Nation Entertainment worth $817,658,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in Live Nation Entertainment by 85.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after purchasing an additional 476,981 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $44,340,000. Cantillon Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 16.7% during the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after buying an additional 458,893 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of Live Nation Entertainment by 2,723.0% during the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock worth $40,129,000 after buying an additional 413,545 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in Live Nation Entertainment by 12.0% in the 1st quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after acquiring an additional 388,980 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LYV. Macquarie reiterated an “outperform” rating and issued a $125.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Bank of America assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective for the company. Oppenheimer boosted their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Benchmark restated a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $119.46.

Live Nation Entertainment Stock Up 1.5 %

LYV opened at $104.32 on Friday. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $107.24. The company has a market cap of $23.97 billion, a price-to-earnings ratio of 99.35, a PEG ratio of 2.29 and a beta of 1.34. The business’s fifty day moving average is $95.36 and its two-hundred day moving average is $96.06. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates 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 revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 earnings per share. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the 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 sale, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock valued at $17,238,181 in the last ninety days. Corporate insiders own 2.85% of the company’s stock.

Live Nation Entertainment Company Profile

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.