22,146 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. has acquired 22,146 shares of Live Nation Entertainment, valued at approximately $2.89 million, indicating increased institutional interest in the company.
• Live Nation's quarterly earnings revealed a miss on EPS estimates, reporting $0.41 against a consensus of $1.08, although revenue for the quarter reached $7.01 billion, surpassing expectations.
• Several analysts have a positive outlook on Live Nation, with an average target price of $168.94 and 18 investment firms rating the stock as a Buy.

Capital Fund Management S.A. acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,146 shares of the company's stock, valued at approximately $2,892,000.

A number of other hedge funds have also recently added to or reduced their stakes in LYV. Vanguard Group Inc. boosted its position in Live Nation Entertainment by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after purchasing an additional 713,020 shares during the period. Principal Financial Group Inc. boosted its position in Live Nation Entertainment by 4.0% during the first quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after purchasing an additional 294,310 shares during the period. Jericho Capital Asset Management L.P. boosted its position in Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after purchasing an additional 777,105 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Live Nation Entertainment by 46.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after purchasing an additional 884,745 shares during the period. Finally, Groupama Asset Managment boosted its position in Live Nation Entertainment by 0.3% during the first quarter. Groupama Asset Managment now owns 2,006,693 shares of the company's stock worth $2,896,000 after purchasing an additional 6,693 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of several research reports. Roth Mkm reduced their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Benchmark raised their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Rosenblatt Securities reduced their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $0.37 during midday trading on Friday, reaching $166.25. 479,508 shares of the company traded hands, compared to its average volume of 2,449,123. The firm has a market cap of $38.98 billion, a PE ratio of 72.00, a PEG ratio of 9.99 and a beta of 1.46. The stock's 50-day simple moving average is $152.94 and its 200-day simple moving average is $141.76. Live Nation Entertainment, Inc. has a 12 month low of $92.57 and a 12 month high of $167.22. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business's quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.