Findlay Park Partners LLP Makes New $195.78 Million Investment in Live Nation Entertainment, Inc. $LYV

Findlay Park Partners LLP bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, HoldingsChannel.com reports. The firm bought 1,069,200 shares of the company’s stock, valued at approximately $195,781,000. Live Nation Entertainment makes up about 2.6% of Findlay Park Partners LLP’s holdings, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYV. Burkett Financial Services LLC bought a new stake in shares of Live Nation Entertainment in the second quarter worth $26,000. Kilter Group LLC purchased a new position in Live Nation Entertainment in the second quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at about $27,000. Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $25,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $32,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $182.28 on Friday. The firm has a market capitalization of $42.95 billion, a price-to-earnings ratio of -161.31 and a beta of 1.12. The business has a 50 day simple moving average of $180.20 and a 200-day simple moving average of $166.31. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The company 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%.Live Nation Entertainment’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. Equities analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on LYV shares. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Morgan Stanley upped their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Finally, Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a research note on Tuesday, July 28th. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price 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.