Northwestern Mutual Wealth Management Co. Buys 2,035 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Northwestern Mutual Wealth Management Co. lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 74.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,755 shares of the company’s stock after purchasing an additional 2,035 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Live Nation Entertainment were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of LYV. Select Equity Group L.P. raised its holdings in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. increased its holdings in Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC raised its position in Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after buying an additional 855,197 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Live Nation Entertainment by 85.0% during 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 acquiring an additional 476,981 shares during the last quarter. Finally, Cantillon Capital Management LLC grew its stake in shares of Live Nation Entertainment by 16.7% in the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after acquiring an additional 458,893 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.7 %

LYV opened at $111.61 on Wednesday. The stock has a market cap of $25.64 billion, a price-to-earnings ratio of 106.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.35. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $99.01 and its 200 day moving average is $96.61. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $112.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LYV shares. Bank of America initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Macquarie boosted their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Benchmark reiterated a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.85.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the business’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 transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. 2.85% of the stock is currently owned by corporate 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.