Live Nation Entertainment, Inc. $LYV Stock Position Lifted by Tremblant Capital Group

Tremblant Capital Group boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,319 shares of the company’s stock after buying an additional 19,566 shares during the quarter. Live Nation Entertainment makes up about 3.5% of Tremblant Capital Group’s holdings, making the stock its 12th biggest position. Tremblant Capital Group’s holdings in Live Nation Entertainment were worth $33,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LYV. Vanguard Group Inc. increased its stake in shares of Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after acquiring an additional 372,715 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares in the last quarter. Capital World Investors boosted its position in Live Nation Entertainment by 4.8% during the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after purchasing an additional 237,342 shares during the last quarter. Geode Capital Management LLC grew its stake in Live Nation Entertainment by 3.8% in the second quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after purchasing an additional 156,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock worth $501,911,000 after purchasing an additional 212,592 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LYV shares. Rothschild & Co Redburn upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the company from $166.00 to $193.00 in a report on Friday, February 27th. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Moffett Nathanson decreased their target price on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group restated a “hold” rating on shares of Live Nation Entertainment in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $184.40.

Live Nation Entertainment Stock Down 3.9%

Shares of Live Nation Entertainment stock opened at $154.14 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $113.20 and a 12-month high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The stock has a 50 day moving average price of $151.35 and a two-hundred day moving average price of $150.42. The stock has a market capitalization of $36.19 billion, a P/E ratio of -642.25 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Live Nation Entertainment’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is owned by company insiders.

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.