Live Nation Entertainment, Inc. $LYV Stock Holdings Boosted by MSA Advisors LLC

MSA Advisors LLC grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 26.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 186,596 shares of the company’s stock after buying an additional 38,621 shares during the quarter. Live Nation Entertainment makes up 8.6% of MSA Advisors LLC’s holdings, making the stock its 4th biggest holding. MSA Advisors LLC’s holdings in Live Nation Entertainment were worth $28,458,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LYV. Norges Bank acquired a new position in Live Nation Entertainment in the fourth quarter valued at $285,924,000. Sachem Head Capital Management LP purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth about $173,380,000. Jericho Capital Asset Management L.P. grew its holdings in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares during the period. First Trust Advisors LP grew its holdings in shares of Live Nation Entertainment by 653.7% during the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock worth $169,767,000 after purchasing an additional 1,033,289 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after buying an additional 1,001,905 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

LYV opened at $180.96 on Wednesday. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $188.00. The firm has a market cap of $42.63 billion, a price-to-earnings ratio of -102.24 and a beta of 1.11. 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 company has a fifty day simple moving average of $174.09 and a 200 day simple moving average of $161.68.

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

Wall Street Analysts Forecast Growth

LYV has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Guggenheim raised their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Finally, BTIG Research started coverage on Live Nation Entertainment in a research report on Thursday, July 23rd. They issued a “buy” rating and a $215.00 price objective on the stock. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction 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 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. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by insiders.

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.