Sustainable Insight Capital Management LLC Buys Shares of 8,700 Live Nation Entertainment, Inc. $LYV

Sustainable Insight Capital Management LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,700 shares of the company’s stock, valued at approximately $1,327,000.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Principal Financial Group Inc. lifted its holdings in Live Nation Entertainment by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after purchasing an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 3.5% in the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after buying an additional 193,104 shares during the last quarter. Geode Capital Management LLC boosted its position in Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in 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 valued at $569,503,000 after acquiring an additional 1,099,350 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after acquiring an additional 123,800 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 0.7%

LYV opened at $177.29 on Friday. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00. The stock has a market capitalization of $41.76 billion, a PE ratio of -100.16 and a beta of 1.11. The business’s 50 day moving average price is $173.49 and its 200 day moving average price is $161.07. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Citizens Jmp upped their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a report on Wednesday. Roth Capital reaffirmed a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, July 15th. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $195.95.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated 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 directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated 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 owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.89% of the company’s stock.

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.