Rakuten Investment Management Inc. Takes Position in Live Nation Entertainment, Inc. $LYV

Rakuten Investment Management Inc. bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 25,802 shares of the company’s stock, valued at approximately $4,710,000.

Several other institutional investors have also added to or reduced their stakes in LYV. Axxcess Wealth Management LLC increased its holdings in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after buying an additional 75 shares during the period. Vident Advisory LLC grew its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after acquiring an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. increased its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares during the period. Sumitomo Life Insurance Co. lifted its position in Live Nation Entertainment by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after purchasing an additional 82 shares during the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Live Nation Entertainment by 37.4% during the fourth quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citizens Jmp lifted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. Susquehanna increased their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Wells Fargo & Company upped their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, UBS Group increased their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $180.84 on Monday. The stock has a fifty day moving average of $181.24 and a 200 day moving average of $167.90. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The firm has a market capitalization of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current 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.