Northwestern Mutual Wealth Management Co. Acquires Shares of 5,255 Live Nation Entertainment, Inc. $LYV

Northwestern Mutual Wealth Management Co. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, Holdings Channel reports. The firm bought 5,255 shares of the company’s stock, valued at approximately $962,000.

A number of other institutional investors have also made changes to their positions in LYV. Empowered Funds LLC increased its position in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after acquiring an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Live Nation Entertainment by 6.0% during the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after purchasing an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after purchasing an additional 1,711 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $186.48 on Wednesday. The company has a market capitalization of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50 day moving average price is $180.63 and its two-hundred day moving average price is $167.08.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on LYV. BTIG Research reaffirmed a “buy” rating and set a $215.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Rothschild & Co Redburn boosted their target price on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Benchmark lifted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Roth Capital set a $208.00 price objective on Live Nation Entertainment in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Insider Buying and Selling at Live Nation Entertainment

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

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.