MBB Public Markets I LLC Purchases 9,306 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

MBB Public Markets I LLC boosted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 396.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,652 shares of the company’s stock after purchasing an additional 9,306 shares during the quarter. MBB Public Markets I LLC’s holdings in Live Nation Entertainment were worth $1,092,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mystic Asset Management Inc. increased its stake in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after acquiring an additional 110 shares in the last quarter. Czech National Bank increased its stake in shares of Live Nation Entertainment by 0.5% during the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after purchasing an additional 115 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Live Nation Entertainment by 3.2% during the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after purchasing an additional 120 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position 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 worth $237,000 after purchasing an additional 130 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its stake in shares of Live Nation Entertainment by 1.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company’s stock worth $1,071,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYV. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Bank of America began coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Benchmark reissued a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the 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 completion of the sale, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is owned by company insiders.

Live Nation Entertainment Stock Performance

LYV stock opened at $109.49 on Tuesday. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $109.83. The company has a market cap of $25.15 billion, a P/E ratio of 104.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The stock’s fifty day moving average price is $97.00 and its 200-day moving average price is $96.36.

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

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.