Ameritas Advisory Services LLC Grows Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Ameritas Advisory Services LLC increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 16.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,635 shares of the company’s stock after acquiring an additional 927 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Live Nation Entertainment were worth $622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LYV. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 110,097 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Live Nation Entertainment by 12.0% in the 1st quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after purchasing an additional 388,980 shares during the period. Cantillon Capital Management LLC increased its position in 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 worth $339,066,000 after buying an additional 458,893 shares during the period. Norges Bank acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $248,139,000. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Live Nation Entertainment by 7.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after acquiring an additional 153,825 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. 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 report on Thursday, August 1st. Benchmark reiterated a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Morgan Stanley reiterated an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. JPMorgan Chase & Co. upped their price target on shares of 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, Roth Mkm reissued a “buy” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.17.

Live Nation Entertainment Price Performance

Shares of LYV traded up $0.27 during mid-day trading on Friday, hitting $97.00. 252,899 shares of the company were exchanged, compared to its average volume of 2,113,014. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current 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 stock has a market cap of $22.29 billion, a price-to-earnings ratio of 92.12, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34. The company has a 50 day moving average of $94.22 and a 200-day moving average of $95.59.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Analysts expect that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’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 directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,201 shares of company stock valued at $788,464. 2.85% of the stock is owned by company 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.