727,220 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Primecap Management Co. CA

Primecap Management Co. CA purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 727,220 shares of the company’s stock, valued at approximately $133,161,000. Primecap Management Co. CA owned about 0.31% of Live Nation Entertainment as of its most recent SEC filing.

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

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LYV shares. Morgan Stanley lifted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. UBS Group raised their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Benchmark boosted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Citizens Jmp increased their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 22nd. Finally, Roth Capital set a $208.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Price Performance

LYV opened at $186.48 on Wednesday. The company has a fifty day moving average price of $180.63 and a two-hundred day moving average price of $167.08. The firm has a market capitalization of $43.94 billion, a PE ratio of -165.03 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $0.41 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

About Live Nation Entertainment

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.