Vulcan Value Partners LLC Purchases 855,197 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Vulcan Value Partners LLC lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 46.5% during the second quarter, Holdings Channel reports. The firm owned 2,694,463 shares of the company’s stock after acquiring an additional 855,197 shares during the period. Live Nation Entertainment makes up 3.8% of Vulcan Value Partners LLC’s holdings, making the stock its 12th largest holding. Vulcan Value Partners LLC’s holdings in Live Nation Entertainment were worth $252,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in LYV. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after purchasing an additional 110,097 shares during the last quarter. Select Equity Group L.P. increased its holdings in Live Nation Entertainment by 12.3% during the second 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. Canada Pension Plan Investment Board raised its position in Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after acquiring an additional 155,920 shares during the period. William Blair Investment Management LLC boosted its stake in Live Nation Entertainment by 12.0% in the first quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after acquiring an additional 388,980 shares during the last quarter. Finally, D1 Capital Partners L.P. grew its position in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after acquiring an additional 1,093,000 shares during the period. 74.52% of the stock is owned by institutional investors.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment 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 transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 over the last three months. 2.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LYV has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft boosted their price objective 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 started coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Finally, Macquarie reiterated an “outperform” rating and issued a $125.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.46.

Live Nation Entertainment Stock Up 0.5 %

LYV opened at $108.71 on Friday. 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, Inc. has a one year low of $76.48 and a one year high of $109.24. The firm has a market capitalization of $24.98 billion, a P/E ratio of 103.53, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The company has a fifty day moving average price of $96.71 and a 200-day moving average price of $96.41.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results 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). The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Live Nation Entertainment 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.