Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 85.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,302 shares of the company’s stock after acquiring an additional 58,140 shares during the quarter. Royal London Asset Management Ltd. owned 0.05% of Live Nation Entertainment worth $11,840,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new stake in shares of Live Nation Entertainment in the 1st quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Rise Advisors LLC raised its stake in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after buying an additional 119 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Rosenblatt Securities restated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday. Macquarie reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Finally, Oppenheimer boosted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.46.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $97.27 on Friday. The business has a 50 day simple moving average of $94.82 and a 200-day simple moving average of $95.86. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $22.35 billion, a PE ratio of 92.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the business posted $1.02 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.19 earnings per share for the current year.

Live Nation Entertainment Company Profile

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.