Jefferies Financial Group Inc. Makes New $2.65 Million Investment in Live Nation Entertainment, Inc. $LYV

Jefferies Financial Group Inc. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,475 shares of the company’s stock, valued at approximately $2,651,000.

Several other large investors have also recently added to or reduced their stakes in LYV. Public Employees Retirement System of Ohio purchased a new position in Live Nation Entertainment during the second quarter worth about $8,388,000. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Live Nation Entertainment during the 2nd quarter valued at about $399,000. Transamerica Financial Advisors LLC purchased a new position in shares of Live Nation Entertainment during the 2nd quarter worth about $27,000. Corient Private Wealth LP acquired a new stake in shares of Live Nation Entertainment in the second quarter worth approximately $4,547,000. Finally, Perennial Investment Advisors LLC purchased a new stake in Live Nation Entertainment in the second quarter valued at approximately $257,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 0.1%

Shares of LYV stock opened at $180.84 on Friday. 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, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The firm’s 50 day moving average price is $181.24 and its two-hundred day moving average price is $167.76. The stock has a market cap of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data 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. The company had revenue of $7.67 billion during 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 business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. This represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Guggenheim increased their price target on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Roth Capital set a $208.00 target price on Live Nation Entertainment in a research report on Friday, July 31st. Wells Fargo & Company lifted their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, BTIG Research restated a “buy” rating and set a $215.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment 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.