USS Investment Management Ltd Grows Stock Holdings in Live Nation Entertainment, Inc. $LYV

USS Investment Management Ltd grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,256 shares of the company’s stock after acquiring an additional 3,840 shares during the period. USS Investment Management Ltd’s holdings in Live Nation Entertainment were worth $4,311,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after buying an additional 109 shares in the last quarter. Cerity Partners LLC increased its position in shares of Live Nation Entertainment by 6.0% during the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after buying an additional 1,550 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after buying an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after acquiring an additional 1,711 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Down 0.3%

Shares of Live Nation Entertainment stock opened at $186.07 on Friday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $187.63. The company’s 50 day moving average price is $167.83 and its 200-day moving average price is $157.11. The stock has a market capitalization of $43.83 billion, a price-to-earnings ratio of -105.13 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) EPS. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LYV. Wells Fargo & Company reduced their price objective on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.50.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.