Perigon Wealth Management LLC Makes New $226,000 Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Perigon Wealth Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 5,103 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors also recently bought and sold shares of LYV. Norges Bank acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $96,938,000. Nuveen Asset Management LLC lifted its holdings in shares of Live Nation Entertainment by 3.0% in the 4th quarter. Nuveen Asset Management LLC now owns 524,436 shares of the company’s stock valued at $37,481,000 after buying an additional 15,401 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Live Nation Entertainment by 4.8% in the 1st quarter. State of Alaska Department of Revenue now owns 24,282 shares of the company’s stock valued at $1,103,000 after buying an additional 1,122 shares during the period. Tsfg LLC lifted its holdings in shares of Live Nation Entertainment by 7,500.0% in the 1st quarter. Tsfg LLC now owns 1,216 shares of the company’s stock valued at $55,000 after buying an additional 1,200 shares during the period. Finally, XR Securities LLC acquired a new stake in shares of Live Nation Entertainment in the 1st quarter valued at approximately $211,000. 74.37% of the stock is owned by institutional investors.

Several research firms have recently commented on LYV. William Blair reissued a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, April 14th. Citigroup lifted their price objective on Live Nation Entertainment from $35.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, July 6th. Morgan Stanley lifted their price objective on Live Nation Entertainment from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Cowen reduced their price objective on Live Nation Entertainment from $65.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a $47.00 price objective on shares of Live Nation Entertainment in a report on Monday, April 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.20.

Live Nation Entertainment stock opened at $46.81 on Friday. The company has a debt-to-equity ratio of 4.09, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average of $46.97 and a two-hundred day moving average of $51.41. Live Nation Entertainment, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $76.60.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.36). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Live Nation Entertainment had a negative return on equity of 7.21% and a negative net margin of 0.91%. The business’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) EPS. Research analysts predict that Live Nation Entertainment, Inc. will post -4.94 earnings per share for the current year.

In other news, CFO Elizabeth Kathleen Willard sold 68,040 shares of Live Nation Entertainment stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $53.53, for a total value of $3,642,181.20. Following the completion of the sale, the chief financial officer now owns 326,399 shares of the company’s stock, valued at $17,472,138.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 3,000 shares of Live Nation Entertainment stock in a transaction on Friday, June 5th. The shares were sold at an average price of $58.02, for a total value of $174,060.00. Following the completion of the sale, the director now directly owns 68,336 shares of the company’s stock, valued at approximately $3,964,854.72. The disclosure for this sale can be found here. Company insiders own 5.48% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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