Family Firm Inc. Takes $42,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Family Firm Inc. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 450 shares of the company’s stock, valued at approximately $42,000.

Several other institutional investors also recently added to or reduced their stakes in LYV. Baskin Financial Services Inc. boosted its stake in Live Nation Entertainment by 4.1% in the second quarter. Baskin Financial Services Inc. now owns 322,019 shares of the company’s stock worth $30,186,000 after purchasing an additional 12,679 shares in the last quarter. &PARTNERS acquired a new position in Live Nation Entertainment during the second quarter valued at approximately $279,000. Hennessy Advisors Inc. acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $7,555,000. Lecap Asset Management Ltd. bought a new position in shares of Live Nation Entertainment during the second quarter worth approximately $981,000. Finally, Fifth Third Bancorp increased its stake in shares of Live Nation Entertainment by 8.6% in the 2nd quarter. Fifth Third Bancorp now owns 3,794 shares of the company’s stock valued at $356,000 after purchasing an additional 301 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LYV. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. 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 note on Wednesday, July 31st. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Benchmark reiterated a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.17.

Insider Buying and Selling

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 completion of the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Insiders have sold a total of 8,201 shares of company stock valued at $788,464 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded up $0.82 during trading on Friday, hitting $96.78. 956,371 shares of the company’s stock were exchanged, compared to its average volume of 2,149,803. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $107.24. 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 business has a 50-day simple moving average of $93.82 and a 200-day simple moving average of $95.37. The stock has a market capitalization of $22.23 billion, a price-to-earnings ratio of 92.17, a PEG ratio of 2.18 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

About Live Nation Entertainment

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.