Family Firm Inc. Invests $42,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Family Firm Inc. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, Holdings Channel reports. The fund acquired 450 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $248,139,000. Cantillon Capital Management LLC raised its stake in shares of Live Nation Entertainment by 146.6% in the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after buying an additional 1,632,749 shares during the period. Kodai Capital Management LP bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $44,340,000. Assenagon Asset Management S.A. raised its stake in shares of Live Nation Entertainment by 445.4% in the first quarter. Assenagon Asset Management S.A. now owns 512,347 shares of the company’s stock worth $54,191,000 after buying an additional 418,411 shares during the period. Finally, Public Sector Pension Investment Board grew its position in shares of Live Nation Entertainment by 2,723.0% during the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock worth $40,129,000 after purchasing an additional 413,545 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.9 %

Shares of NYSE LYV traded up $0.82 during mid-day trading on Friday, hitting $96.78. The company had a trading volume of 956,371 shares, compared to its average volume of 2,149,803. The company has a market capitalization of $22.23 billion, a PE ratio of 92.17, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34. 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 1-year low of $76.48 and a 1-year high of $107.24. The business’s 50-day simple moving average is $93.82 and its 200 day simple moving average is $95.37.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly 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). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LYV. Roth Mkm restated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Morgan Stanley reissued an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. 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 report on Thursday, August 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.17.

Insiders Place Their Bets

In related news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related 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 value of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,201 shares of company stock valued at $788,464. 2.85% of the stock is currently owned by insiders.

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.