North Star Asset Management Inc. Boosts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

North Star Asset Management Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,631 shares of the company’s stock after buying an additional 6,074 shares during the period. North Star Asset Management Inc.’s holdings in Live Nation Entertainment were worth $7,090,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock valued at $19,494,000 after buying an additional 29,669 shares during the period. Nordea Investment Management AB raised its position in Live Nation Entertainment by 15.8% in the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after purchasing an additional 187,839 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Live Nation Entertainment by 2,723.0% in the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock worth $40,129,000 after buying an additional 413,545 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Live Nation Entertainment by 7.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after buying an additional 153,825 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Live Nation Entertainment in the first quarter valued at $1,454,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Macquarie reiterated an “outperform” rating and issued a $125.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Benchmark reiterated a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Finally, Oppenheimer boosted 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 note on Friday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Insider Activity

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 transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value 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 SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The disclosure for this sale can be found here. Insiders have sold 8,201 shares of company stock worth $788,464 over the last 90 days. 2.85% of the stock is owned by company insiders.

Live Nation Entertainment Trading Down 1.5 %

Shares of LYV stock opened at $92.78 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The stock has a 50-day simple moving average of $94.73 and a 200 day simple moving average of $95.77. The stock has a market capitalization of $21.32 billion, a P/E ratio of 88.36, a P/E/G ratio of 2.20 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last announced its 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 company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 earnings per share. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.18 earnings per share for the current fiscal year.

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.