Linonia Partnership LP Makes New Investment in Live Nation Entertainment, Inc. $LYV

Linonia Partnership LP purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, Holdings Channel reports. The firm purchased 673,090 shares of the company’s stock, valued at approximately $123,250,000. Live Nation Entertainment comprises approximately 2.2% of Linonia Partnership LP’s holdings, making the stock its 9th largest holding.

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

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction 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 sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $186.48 on Wednesday. The company has a market capitalization of $43.94 billion, a price-to-earnings ratio of -165.03 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The stock’s 50 day moving average is $180.63 and its 200-day moving average is $167.08.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate 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%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer set a $100.00 target price on shares of Live Nation Entertainment in a report on Tuesday, July 28th. Sanford C. Bernstein upped their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Citizens Jmp lifted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. Susquehanna boosted their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Rothschild & Co Redburn increased their price target on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.