Dynasty Wealth Management LLC Acquires Shares of 3,224 Live Nation Entertainment, Inc. (NYSE:LYV)

Dynasty Wealth Management LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,224 shares of the company’s stock, valued at approximately $341,000.

Several other large investors also recently bought and sold shares of LYV. SG Americas Securities LLC boosted its stake in Live Nation Entertainment by 112.3% in the fourth quarter. SG Americas Securities LLC now owns 10,850 shares of the company’s stock valued at $1,016,000 after acquiring an additional 99,340 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Live Nation Entertainment by 4.4% during the fourth quarter. Raymond James & Associates now owns 86,784 shares of the company’s stock worth $8,123,000 after buying an additional 3,676 shares during the period. Caprock Group LLC boosted its stake in shares of Live Nation Entertainment by 66.0% during the fourth quarter. Caprock Group LLC now owns 4,425 shares of the company’s stock worth $414,000 after buying an additional 1,759 shares during the period. Baskin Financial Services Inc. boosted its stake in shares of Live Nation Entertainment by 1.3% during the fourth quarter. Baskin Financial Services Inc. now owns 299,507 shares of the company’s stock worth $28,034,000 after buying an additional 3,848 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in shares of Live Nation Entertainment by 46.3% during the fourth quarter. DAVENPORT & Co LLC now owns 1,141,272 shares of the company’s stock worth $107,008,000 after buying an additional 361,103 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV traded up $1.75 during mid-day trading on Wednesday, reaching $96.37. 2,133,380 shares of the company’s stock were exchanged, compared to its average volume of 2,206,947. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The company has a 50-day simple moving average of $93.67 and a two-hundred day simple moving average of $94.96. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $107.24. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 91.78, a PEG ratio of 2.14 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYV. Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. TD Cowen reissued a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Oppenheimer reissued an “outperform” rating and set a $110.00 price target on shares of Live Nation Entertainment in a report on Tuesday, June 25th. Macquarie reissued an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $118.23.

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.