Lecap Asset Management Ltd. Invests $981,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Lecap Asset Management Ltd. bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,463 shares of the company’s stock, valued at approximately $981,000.

A number of other institutional investors have also recently added to or reduced their stakes in LYV. Czech National Bank grew its holdings in shares of Live Nation Entertainment by 0.5% during the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC increased its position in shares of Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares in the last quarter. Baker Tilly Wealth Management LLC raised its stake in shares of Live Nation Entertainment by 5.4% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after acquiring an additional 130 shares during the period. Western Pacific Wealth Management LP lifted its holdings in shares of Live Nation Entertainment by 15.8% during the 4th quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock valued at $92,000 after acquiring an additional 134 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Live Nation Entertainment by 4.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,108 shares of the company’s stock worth $291,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LYV. Roth Mkm restated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Friday, May 24th. Oppenheimer reissued an “outperform” rating and set a $110.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Macquarie reissued an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Two equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.17.

Insiders Place Their Bets

In related news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. 2.85% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Down 0.4 %

Live Nation Entertainment stock traded down $0.37 during midday trading on Wednesday, hitting $96.47. The stock had a trading volume of 1,042,845 shares, compared to its average volume of 2,165,307. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The business has a fifty day moving average price of $93.52 and a 200 day moving average price of $95.30. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The stock has a market cap of $22.16 billion, a P/E ratio of 91.88, a P/E/G ratio of 2.18 and a beta of 1.34.

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