HighVista Strategies LLC Invests $1.37 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

HighVista Strategies LLC purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,600 shares of the company’s stock, valued at approximately $1,369,000.

A number of other institutional investors also recently bought and sold shares of LYV. YHB Investment Advisors Inc. bought a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $32,000. Rise Advisors LLC grew its position in Live Nation Entertainment by 90.3% in 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 during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. Lindbrook Capital LLC lifted its position in shares of Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

NYSE LYV opened at $103.64 on Monday. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. The firm’s fifty day simple moving average is $95.64 and its two-hundred day simple moving average is $96.11. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market capitalization of $23.81 billion, a P/E ratio of 98.70, a P/E/G ratio of 2.29 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LYV shares. Benchmark reiterated a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Oppenheimer raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Finally, Macquarie restated an “outperform” rating and issued a $125.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.46.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction that occurred on 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 owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the 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 sale, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 in the last three months. 2.85% of the stock is owned by insiders.

Live Nation Entertainment 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.