Brooklyn Investment Group Invests $31,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Brooklyn Investment Group acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 286 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Select Equity Group L.P. boosted its stake in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board boosted its position in Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares during the period. Principal Financial Group Inc. grew its stake in Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares in the last quarter. D1 Capital Partners L.P. increased its position in shares of Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the period. Finally, Vulcan Value Partners LLC raised its stake in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on LYV shares. Roth Mkm raised their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America raised their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Oppenheimer increased their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Insiders Place Their Bets

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the sale, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,799 shares of company stock valued at $16,449,718. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Down 1.1 %

Live Nation Entertainment stock opened at $138.25 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $141.18. The business has a fifty day moving average price of $120.38 and a 200-day moving average price of $103.68. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of 147.07, a PEG ratio of 3.79 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the company earned $1.78 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

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.