Brasada Capital Management LP Invests $6.78 Million in Live Nation Entertainment, Inc. $LYV

Brasada Capital Management LP acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 37,020 shares of the company’s stock, valued at approximately $6,779,000.

Several other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $25,000. Burkett Financial Services LLC acquired a new position in Live Nation Entertainment during the second quarter worth $26,000. Kilter Group LLC acquired a new position in Live Nation Entertainment during the second quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at $27,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at $27,000. Institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

LYV has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Roth Capital set a $208.00 target price on Live Nation Entertainment in a report on Friday, July 31st. Guggenheim increased their price target on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Rothschild & Co Redburn boosted their price target on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Finally, UBS Group upped their price objective on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Twenty equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Down 1.4%

Shares of LYV stock opened at $180.14 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The stock has a market cap of $42.45 billion, a price-to-earnings ratio of -159.42 and a beta of 1.12. The firm’s 50-day moving average is $181.04 and its 200-day moving average is $167.67. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.Live Nation Entertainment’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Live Nation Entertainment Company 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.