Sustainable Insight Capital Management LLC Invests $1.33 Million in Live Nation Entertainment, Inc. $LYV

Sustainable Insight Capital Management LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,700 shares of the company’s stock, valued at approximately $1,327,000.

A number of other institutional investors also recently bought and sold shares of LYV. Leonteq Securities AG acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Live Nation Entertainment during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment during the fourth quarter valued at $30,000. DV Equities LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $31,000. Finally, Blue Trust Inc. grew its position in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after purchasing an additional 107 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYV has been the subject of several analyst reports. BTIG Research started coverage on Live Nation Entertainment in a report on Thursday. They issued a “buy” rating and a $215.00 price objective for the company. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company upped their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Guggenheim raised their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Susquehanna lowered shares of Live Nation Entertainment from a “positive” rating to a “neutral” rating and lifted their target price for the company from $181.00 to $186.00 in a report on Tuesday. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.95.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $177.29 on Friday. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of -100.16 and a beta of 1.11. The stock has a 50-day moving average of $173.49 and a 200 day moving average of $161.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $188.00.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.32) earnings per share. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.94 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.