Gateway Investment Advisers LLC Increases Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Gateway Investment Advisers LLC increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,233 shares of the company’s stock after acquiring an additional 3,182 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Live Nation Entertainment were worth $9,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Vanguard Group Inc. increased its holdings 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 worth $1,911,133,000 after buying an additional 110,097 shares during the last quarter. Select Equity Group L.P. increased its stake 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 acquiring an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Live Nation Entertainment by 1.8% in 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 purchasing an additional 155,920 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of 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 purchasing an additional 388,980 shares during the period. Finally, D1 Capital Partners L.P. increased 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 worth $332,171,000 after purchasing an additional 1,093,000 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $114.81 on Friday. The stock’s 50-day simple moving average is $100.20 and its 200-day simple moving average is $96.84. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $26.44 billion, a PE ratio of 108.31, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $115.27.

Live Nation Entertainment (NYSE:LYV) last issued 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 net margin of 2.20% and a return on equity of 84.78%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Rapino sold 98,849 shares of the 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 completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the 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 $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 in the last quarter. 2.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LYV has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Benchmark restated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Macquarie increased their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.85.

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.