8,755 Shares in Live Nation Entertainment, Inc. $LYV Acquired by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners opened a new position in Live Nation Entertainment in Q1, buying 8,755 shares worth about $1.335 million.
• Institutional ownership remains heavy, with investors holding 74.52% of Live Nation stock; several large funds also increased their stakes recently.
• Analysts remain mostly upbeat: the stock has a Moderate Buy consensus with a $188.50 average price target, even after Live Nation reported a quarterly EPS miss while still topping revenue expectations.

Elevation Point Wealth Partners LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,755 shares of the company's stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock valued at $1,528,700,000 after buying an additional 1,001,905 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company's stock valued at $817,055,000 after acquiring an additional 193,104 shares during the period. Capital World Investors raised its holdings in Live Nation Entertainment by 4.8% during the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company's stock valued at $840,829,000 after acquiring an additional 237,342 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock worth $610,707,000 after acquiring an additional 20,165 shares during the period. Finally, Jericho Capital Asset Management L.P. boosted its holdings in shares of Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock worth $569,503,000 after acquiring an additional 1,099,350 shares during the period. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on LYV. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday, May 6th. Wolfe Research upped their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Rothschild & Co Redburn increased their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. Finally, Susquehanna upped their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.50.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $186.07 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $43.83 billion, a PE ratio of -105.13 and a beta of 1.11. The company's fifty day moving average is $167.83 and its 200 day moving average is $157.22. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $187.63.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the business posted ($0.32) earnings per share. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Company 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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