Live Nation Entertainment, Inc. $LYV Shares Acquired by Kenora Financial LLC

Kenora Financial LLC lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 90.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,538 shares of the company’s stock after acquiring an additional 4,522 shares during the period. Kenora Financial LLC’s holdings in Live Nation Entertainment were worth $1,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in shares of Live Nation Entertainment during the second quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board acquired a new stake in shares of Live Nation Entertainment in the second quarter worth $859,018,000. Findlay Park Partners LLP bought a new position in Live Nation Entertainment during the second quarter worth $195,781,000. OMERS ADMINISTRATION Corp increased its position in Live Nation Entertainment by 5,799.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 900,794 shares of the company’s stock worth $137,380,000 after acquiring an additional 885,524 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Live Nation Entertainment during the 2nd quarter valued at $140,911,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Benchmark increased their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, October 13th. Weiss Ratings cut shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Susquehanna lifted their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. 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 Monday. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $198.14.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the business’s 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 sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Trading Up 0.3%

Shares of Live Nation Entertainment stock opened at $170.97 on Tuesday. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The firm has a market capitalization of $40.29 billion, a PE ratio of -151.30 and a beta of 1.17. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $174.79 and its two-hundred day moving average price is $171.65.

Live Nation Entertainment (NYSE:LYV) last released 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. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that Live Nation Entertainment, Inc. will post 1.12 EPS for the current year.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.