Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,720 shares of the company’s stock after purchasing an additional 1,663 shares during the period. DoubleLine ETF Adviser LP’s holdings in Live Nation Entertainment were worth $1,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LYV. Vanguard Group Inc. boosted its position in shares of Live Nation Entertainment by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after buying an additional 110,097 shares during the period. Canada Pension Plan Investment Board raised its stake in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares in the last quarter. William Blair Investment Management LLC boosted its position in Live Nation Entertainment by 12.0% during the 1st quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock worth $384,346,000 after acquiring an additional 388,980 shares during the period. D1 Capital Partners L.P. grew 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 purchasing an additional 1,093,000 shares in the last quarter. Finally, Cantillon Capital Management LLC increased its holdings in shares of Live Nation Entertainment by 16.7% during the first 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 during the period. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYV. 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. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Bank of America began coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Macquarie reaffirmed an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Finally, Benchmark reissued a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.46.

Live Nation Entertainment Stock Down 0.4 %

NYSE:LYV opened at $106.95 on Thursday. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $108.12. The firm has a market capitalization of $24.63 billion, a price-to-earnings ratio of 101.86, a PEG ratio of 2.46 and a beta of 1.34. 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 business’s fifty day moving average price is $96.17 and its 200 day moving average price is $96.27.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates 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 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 firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now directly owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 in the last three months. Corporate insiders own 2.85% of the company’s stock.

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.