531,508 Shares in Live Nation Entertainment, Inc. $LYV Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 531,508 shares of the company’s stock, valued at approximately $97,324,000. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of Live Nation Entertainment at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Live Nation Entertainment during the fourth quarter valued at about $285,924,000. Sachem Head Capital Management LP bought a new stake in Live Nation Entertainment in the fourth quarter worth about $173,380,000. Jericho Capital Asset Management L.P. boosted its stake in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after acquiring an additional 1,099,350 shares during the last quarter. Findlay Park Partners LLP bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $195,781,000. Finally, First Trust Advisors LP increased its stake in shares of Live Nation Entertainment by 653.7% during the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock worth $169,767,000 after purchasing an additional 1,033,289 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 0.3%

Live Nation Entertainment stock opened at $182.28 on Monday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24. The firm has a market capitalization of $42.95 billion, a price-to-earnings ratio of -161.31 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a 50 day simple moving average of $180.20 and a 200 day simple moving average of $166.47.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Roth Capital set a $208.00 target price on Live Nation Entertainment in a research note on Friday, July 31st. Morgan Stanley upped their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Company Profile

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.