TimesSquare Capital Management LLC Takes Position in Live Nation Entertainment, Inc. $LYV

TimesSquare Capital Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 242,557 shares of the company’s stock, valued at approximately $44,415,000. TimesSquare Capital Management LLC owned about 0.10% of Live Nation Entertainment as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth about $71,150,000. Persistent Asset Partners Ltd acquired a new stake in Live Nation Entertainment during the 2nd quarter worth approximately $188,000. OneDigital Investment Advisors LLC purchased a new position in Live Nation Entertainment in the second quarter valued at approximately $291,000. AMG National Trust Bank acquired a new position in Live Nation Entertainment during the second quarter valued at approximately $205,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Live Nation Entertainment during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LYV. BTIG Research reissued a “buy” rating and issued a $215.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Susquehanna raised their price objective on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research report on Tuesday, July 28th. Finally, Guggenheim raised their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Price Performance

LYV opened at $184.28 on Tuesday. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $189.24. The firm has a market cap of $43.42 billion, a price-to-earnings ratio of -163.08 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. The company has a fifty day simple moving average of $179.13 and a 200 day simple moving average of $165.45.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

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.