Aigen Investment Management LP Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Aigen Investment Management LP acquired 3,514 shares of Live Nation Entertainment, valued at approximately $459,000, marking a significant investment in the company during the first quarter.
• Live Nation's stock price increased by 2.7%, with a current market cap of $37.19 billion and recent revenue of $7.01 billion for the quarter.
• Despite missing EPS estimates, the company experienced a revenue increase of 16.3% compared to the same quarter last year, indicating strong performance in the live events sector.

Aigen Investment Management LP acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,514 shares of the company's stock, valued at approximately $459,000.

Several other large investors have also made changes to their positions in LYV. MSA Advisors LLC increased its stake in Live Nation Entertainment by 24.2% during the first quarter. MSA Advisors LLC now owns 191,205 shares of the company's stock worth $24,968,000 after acquiring an additional 37,230 shares during the last quarter. Berger Financial Group Inc bought a new stake in Live Nation Entertainment during the first quarter worth approximately $5,059,000. Townsquare Capital LLC increased its stake in Live Nation Entertainment by 3.5% during the first quarter. Townsquare Capital LLC now owns 4,790 shares of the company's stock worth $625,000 after acquiring an additional 160 shares during the last quarter. National Bank of Canada FI increased its stake in Live Nation Entertainment by 3.8% during the first quarter. National Bank of Canada FI now owns 77,664 shares of the company's stock worth $10,141,000 after acquiring an additional 2,842 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Live Nation Entertainment by 9.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,152 shares of the company's stock worth $36,191,000 after acquiring an additional 24,888 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.6%

NYSE LYV traded down $1.01 during midday trading on Friday, hitting $160.59. 2,891,877 shares of the company traded hands, compared to its average volume of 2,156,583. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $37.65 billion, a PE ratio of 69.52, a price-to-earnings-growth ratio of 9.75 and a beta of 1.46. The company's 50-day simple moving average is $149.21 and its 200-day simple moving average is $140.65. Live Nation Entertainment, Inc. has a 52 week low of $92.57 and a 52 week high of $162.95.

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 (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the topic of several analyst reports. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research note on Thursday, July 24th. Guggenheim reissued a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Rosenblatt Securities reduced their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target on the stock. Finally, Benchmark increased their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $167.41.

Live Nation Entertainment Profile

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.