OP Asset Management Ltd Invests $2.44 Million in Live Nation Entertainment, Inc. $LYV

OP Asset Management Ltd purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,032 shares of the company’s stock, valued at approximately $2,445,000.

Several other hedge funds have also bought and sold shares of the business. Ameriflex Group Inc. grew its holdings 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 during the period. Leonteq Securities AG bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $25,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in Live Nation Entertainment during the 4th quarter valued at approximately $30,000. Finally, DV Equities LLC bought a new position in Live Nation Entertainment during the 4th quarter valued at approximately $31,000. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the business’s 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 completion of the sale, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the company’s 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 approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $179.44 on Friday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $180.92. The company has a market cap of $42.27 billion, a P/E ratio of -101.38 and a beta of 1.12. The stock’s fifty day moving average price is $165.03 and its 200-day moving average price is $155.56.

Live Nation Entertainment (NYSE:LYV) last posted 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). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted ($0.32) EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LYV shares. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research upgraded Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wolfe Research increased their price objective on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $188.50.

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.