Live Nation Entertainment, Inc. $LYV Shares Acquired by Independent Franchise Partners LLP

Independent Franchise Partners LLP grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,733,718 shares of the company’s stock after purchasing an additional 193,104 shares during the period. Live Nation Entertainment accounts for approximately 5.2% of Independent Franchise Partners LLP’s holdings, making the stock its 6th biggest position. Independent Franchise Partners LLP’s holdings in Live Nation Entertainment were worth $817,055,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Leonteq Securities AG acquired a new position in Live Nation Entertainment in the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. acquired a new position in Live Nation Entertainment in the fourth quarter worth about $26,000. Ameriflex Group Inc. raised its position in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment in the fourth quarter worth about $30,000. Finally, DV Equities LLC acquired a new position in Live Nation Entertainment in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, 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 SEC filing for this sale provides additional information. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

LYV opened at $171.41 on Thursday. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $176.00. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $163.55 and its 200-day simple moving average is $153.83. The stock has a market capitalization of $40.37 billion, a P/E ratio of -96.84 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company earned ($0.32) earnings per share. Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LYV shares. Evercore reissued an “outperform” rating and issued a $198.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Sanford C. Bernstein increased their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Susquehanna increased their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Citizens Jmp started coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target for the company. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.50.

About Live Nation Entertainment

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.