Seven Grand Managers LLC Acquires Shares of 150,000 Live Nation Entertainment, Inc. $LYV

Seven Grand Managers LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 150,000 shares of the company’s stock, valued at approximately $22,692,000. Live Nation Entertainment comprises 2.7% of Seven Grand Managers LLC’s investment portfolio, making the stock its 13th biggest position.

Other large investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Live Nation Entertainment by 2.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after purchasing an additional 69 shares during the period. Central Pacific Bank Trust Division raised its position in Live Nation Entertainment by 1.8% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after buying an additional 97 shares during the last quarter. Trust Asset Management LLC lifted its stake in shares of Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after acquiring an additional 98 shares during the period. Callan Family Office LLC boosted its holdings in shares of Live Nation Entertainment by 1.8% in the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock valued at $732,000 after acquiring an additional 98 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in shares of Live Nation Entertainment by 5.1% during the first quarter. Horizon Investments LLC now owns 2,251 shares of the company’s stock worth $294,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $131.07 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $30.77 billion, a P/E ratio of 56.74, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37. The firm has a 50-day moving average price of $147.20 and a two-hundred day moving average price of $150.94. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same period last year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LYV shares. UBS Group initiated coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price objective for the company. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Susquehanna lifted their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.50.

About Live Nation Entertainment

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.