14,596 Shares in Live Nation Entertainment, Inc. $LYV Acquired by Third View Private Wealth LLC

Key Points

• Third View Private Wealth LLC opened a new position in Live Nation by purchasing 14,596 shares during the fourth quarter, valued at about $2.08 million.
• Live Nation reported Q4 EPS of ($1.06), missing estimates by $0.06 while revenue of $6.31 billion beat expectations and rose 11.1% year-over-year.
• Analysts remain mostly positive—21 Buys, 2 Holds and 1 Sell—giving a consensus rating of “Moderate Buy” and a consensus price target of $185.19, with several firms raising targets into the $180–$190 range; the stock trades around $165.84 with a market cap of about $38.94 billion and 74.52% institutional ownership.

Third View Private Wealth LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,596 shares of the company's stock, valued at approximately $2,080,000.

A number of other hedge funds also recently modified their holdings of the stock. Vident Advisory LLC raised its holdings in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company's stock worth $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. raised its holdings in shares of Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company's stock worth $272,000 after purchasing an additional 80 shares during the period. Private Trust Co. NA raised its holdings in shares of Live Nation Entertainment by 24.4% in the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company's stock worth $68,000 after purchasing an additional 82 shares during the period. Ameriflex Group Inc. raised its holdings in shares of Live Nation Entertainment by 102.4% in the 3rd 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. Finally, GW&K Investment Management LLC raised its holdings in shares of Live Nation Entertainment by 22.2% in the 3rd quarter. GW&K Investment Management LLC now owns 468 shares of the company's stock worth $76,000 after purchasing an additional 85 shares during the period. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $165.84 on Tuesday. The company has a 50-day simple moving average of $155.68 and a two-hundred day simple moving average of $148.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment, Inc. has a 12-month low of $122.08 and a 12-month high of $175.25. The firm has a market cap of $38.94 billion, a price-to-earnings ratio of -691.00 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter in the previous year, the company earned $0.58 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LYV shares. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $175.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, March 12th. Wall Street Zen raised shares of Live Nation Entertainment from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group boosted their target price on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a report on Friday, February 20th. Benchmark reissued a "buy" rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, February 20th. Twenty-one research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.19.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.72% 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.

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