OMERS ADMINISTRATION Corp Invests $35.36 Million in Live Nation Entertainment, Inc. $LYV

OMERS ADMINISTRATION Corp purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 193,089 shares of the company’s stock, valued at approximately $35,357,000.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after purchasing an additional 759,363 shares in the last quarter. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares in the last quarter. CenterBook Partners LP increased its stake in Live Nation Entertainment by 780.1% during the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock valued at $3,155,000 after purchasing an additional 19,627 shares in the last quarter. Troluce Capital Advisors LLC purchased a new position in Live Nation Entertainment in the first quarter worth about $50,328,000. Finally, ProShare Advisors LLC lifted its stake in shares of Live Nation Entertainment by 45.0% in the fourth quarter. ProShare Advisors LLC now owns 41,642 shares of the company’s stock worth $5,934,000 after buying an additional 12,916 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $182.28 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a 50 day moving average price of $180.20 and a 200-day moving average price of $166.47. 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 $42.95 billion, a PE ratio of -161.31 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LYV shares. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Citizens Jmp upped their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Guggenheim boosted their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.