Czech National Bank Raises Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Czech National Bank raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,904 shares of the company’s stock after acquiring an additional 4,761 shares during the quarter. Czech National Bank’s holdings in Live Nation Entertainment were worth $3,493,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Select Equity Group L.P. boosted its holdings in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the last quarter. Vulcan Value Partners LLC increased its position in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after purchasing an additional 855,197 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Live Nation Entertainment by 85.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after purchasing an additional 476,981 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its holdings in Live Nation Entertainment by 16.7% in the 1st quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock valued at $339,066,000 after purchasing an additional 458,893 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.9 %

Shares of LYV stock opened at $114.81 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $115.27. The firm has a market cap of $26.44 billion, a PE ratio of 108.31, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a 50-day moving average of $100.20 and a two-hundred day moving average of $96.89. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the business posted $1.02 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Oppenheimer increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Benchmark reaffirmed a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Bank of America initiated coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Macquarie lifted their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.85.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment 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 transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is currently owned by corporate insiders.

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.