Silvant Capital Management LLC Makes New $9.18 Million Investment in Live Nation Entertainment, Inc. $LYV

Silvant Capital Management LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 50,118 shares of the company’s stock, valued at approximately $9,177,000.

A number of other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares during the period. Cerity Partners LLC raised its position in shares of Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after buying an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Down 1.3%

Shares of Live Nation Entertainment stock opened at $181.79 on Friday. The firm has a market capitalization of $42.84 billion, a PE ratio of -160.88 and a beta of 1.12. 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 $180.00 and its two-hundred day moving average price is $166.20. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24.

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 1.05 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on LYV. UBS Group lifted their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Guggenheim upped their price target on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citizens Jmp boosted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 22nd. Finally, Susquehanna increased their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.