Quarry LP Increases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Quarry LP grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 119.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,714 shares of the company’s stock after buying an additional 934 shares during the period. Quarry LP’s holdings in Live Nation Entertainment were worth $161,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Live Nation Entertainment by 19.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock valued at $19,494,000 after buying an additional 29,669 shares during the period. Nordea Investment Management AB grew its stake in shares of Live Nation Entertainment by 15.8% during the 1st quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after buying an additional 187,839 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Live Nation Entertainment by 2,723.0% during the 4th quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after buying an additional 413,545 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Live Nation Entertainment during the 1st quarter valued at $1,454,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $748,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated 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 sale, 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 quarter. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $109.49 on Tuesday. The firm has a market cap of $25.15 billion, a PE ratio of 104.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The firm’s 50-day simple moving average is $97.00 and its 200-day simple moving average is $96.36. 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, Inc. has a 1 year low of $76.48 and a 1 year high of $109.83.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results 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). The company 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%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. Equities analysts forecast that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LYV. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Macquarie restated an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $119.46.

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.