Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 48.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,187 shares of the company’s stock after acquiring an additional 16,668 shares during the period. Coronation Fund Managers Ltd.’s holdings in Live Nation Entertainment were worth $4,798,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Live Nation Entertainment by 19.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares during the period. Nordea Investment Management AB increased its position in shares of Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after buying an additional 187,839 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after buying an additional 413,545 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $1,454,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $748,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $110.61 on Wednesday. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $111.11. The stock’s fifty day moving average is $97.30 and its two-hundred day moving average is $96.41. The firm has a market capitalization of $25.41 billion, a P/E ratio of 105.34, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly 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 net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the company earned $1.02 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LYV. Benchmark restated a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Oppenheimer boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Bank of America started coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.46.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 in the last quarter. Insiders own 2.85% of the company’s stock.

About Live Nation Entertainment

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.