Dimensional Fund Advisors LP Raises Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Dimensional Fund Advisors LP increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 894,019 shares of the company’s stock after purchasing an additional 51,397 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Live Nation Entertainment were worth $83,780,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of Live Nation Entertainment by 85.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after purchasing an additional 476,981 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Live Nation Entertainment by 1,738.3% during the second quarter. Brown Brothers Harriman & Co. now owns 1,103 shares of the company’s stock worth $103,000 after purchasing an additional 1,043 shares in the last quarter. Quilter Plc purchased a new stake in shares of Live Nation Entertainment during the second quarter worth approximately $586,000. Mystic Asset Management Inc. increased its position in shares of Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after purchasing an additional 110 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Live Nation Entertainment by 21.8% during the second quarter. Federated Hermes Inc. now owns 218,082 shares of the company’s stock worth $20,443,000 after purchasing an additional 39,071 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

LYV opened at $106.95 on Thursday. The stock’s 50-day moving average price is $96.17 and its 200 day moving average price is $96.27. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $108.12. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market cap of $24.63 billion, a price-to-earnings ratio of 101.86, a PEG ratio of 2.46 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last posted its 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). 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 for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company posted $1.02 EPS. Live Nation Entertainment’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the company’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 sale, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock valued at $17,238,181. Corporate insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. Oppenheimer boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.46.

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.