Symmetry Investments LP Acquires 31,089 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Symmetry Investments LP increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 207.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,089 shares of the company’s stock after acquiring an additional 31,089 shares during the quarter. Symmetry Investments LP’s holdings in Live Nation Entertainment were worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $32,000. Rise Advisors LLC boosted its holdings in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after acquiring an additional 159 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Live Nation Entertainment by 44.1% in the 1st 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 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 purchasing an additional 176 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Oppenheimer upped their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Macquarie reissued an “outperform” rating and issued a $125.00 target price on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. boosted their target price 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. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 over the last quarter. 2.85% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $103.64 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. The firm has a market capitalization of $23.81 billion, a price-to-earnings ratio of 98.70, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. 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 50 day moving average of $95.64 and a 200 day moving average of $96.15.

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 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 the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $1.02 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

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.