Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 22.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,463 shares of the company’s stock after selling 23,479 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Live Nation Entertainment were worth $7,824,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in Live Nation Entertainment in the first quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. Rise Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares during the period. Lindbrook Capital LLC grew its position in shares of Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after buying an additional 119 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

NYSE LYV opened at $107.43 on Wednesday. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.96. The firm has a market capitalization of $24.68 billion, a PE ratio of 102.31, a P/E/G ratio of 2.29 and a beta of 1.34. The company’s 50 day simple moving average is $95.97 and its 200 day simple moving average is $96.20. 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 issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 earnings per share. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment 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 completion of the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LYV shares. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Bank of America initiated coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Macquarie reissued an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Finally, Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $119.46.

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.