Sanctuary Advisors LLC Purchases Shares of 20,672 Live Nation Entertainment, Inc. $LYV

Sanctuary Advisors LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,672 shares of the company’s stock, valued at approximately $3,785,000.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC boosted its position in shares of Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after buying an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after buying an additional 109 shares in the last quarter. Cerity Partners LLC raised its position in Live Nation Entertainment by 6.0% in the 2nd 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 last quarter. Daiwa Securities Group Inc. lifted its stake in Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after acquiring an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Live Nation Entertainment by 344.3% during the 2nd 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 in the last quarter. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

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

Live Nation Entertainment Trading Up 1.0%

NYSE LYV opened at $186.48 on Wednesday. The business’s fifty day moving average is $180.63 and its 200-day moving average is $167.08. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $43.94 billion, a price-to-earnings ratio of -165.03 and a beta of 1.12. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24.

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

Analyst Ratings Changes

LYV has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 17th. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Benchmark increased their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Citizens Jmp lifted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 22nd. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $197.19.

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.