14,808 Shares in Live Nation Entertainment, Inc. $LYV Acquired by Delta Global Management LP

Delta Global Management LP bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,808 shares of the company’s stock, valued at approximately $2,258,000.

Several other institutional investors have also recently made changes to their positions in the stock. Leonteq Securities AG bought a new position in shares of Live Nation Entertainment in the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment during the 4th quarter worth about $30,000. DV Equities LLC bought a new position in Live Nation Entertainment in the 4th quarter worth about $31,000. Finally, Blue Trust Inc. grew its holdings in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock valued at $40,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LYV shares. Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Guggenheim upped their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Rothschild & Co Redburn raised their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. UBS Group boosted their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Citizens Jmp upped their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a report on Wednesday. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.95.

Live Nation Entertainment Price Performance

LYV opened at $177.29 on Friday. The stock has a 50-day moving average price of $173.49 and a 200-day moving average price of $161.07. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $188.00. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market capitalization of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. Equities analysts predict that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current fiscal 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.