Empowered Funds LLC Takes $1.46 Million Position in Live Nation Entertainment, Inc. $LYV

Empowered Funds LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 7,977 shares of the company’s stock, valued at approximately $1,461,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Leonteq Securities AG acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC acquired a new position in shares of Live Nation Entertainment during the second quarter worth $26,000. Kilter Group LLC purchased a new position in shares of Live Nation Entertainment in the second quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in Live Nation Entertainment during the 2nd quarter valued at $27,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of a number of recent analyst reports. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Citizens Jmp upped their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Finally, Guggenheim lifted their price target on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This represents a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Down 1.2%

NYSE:LYV opened at $177.38 on Friday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $41.80 billion, a price-to-earnings ratio of -156.97 and a beta of 1.11. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The stock has a 50-day simple moving average of $181.80 and a 200 day simple moving average of $168.61.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

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.