Alyeska Investment Group L.P. Grows Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Alyeska Investment Group more than doubled its Live Nation position in the second quarter, purchasing 69,134 additional shares and bringing its total stake to 129,721 shares valued at approximately $23.8 million. Institutional investors collectively own 74.52% of the company.
• Live Nation reported quarterly EPS of $1.05, beating the $0.66 analyst consensus, while revenue rose 9.4% year over year to $7.67 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $197.19, compared with the stock’s recent price of $180.04.

Alyeska Investment Group L.P. increased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 114.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,721 shares of the company's stock after purchasing an additional 69,134 shares during the period. Alyeska Investment Group L.P. owned 0.06% of Live Nation Entertainment worth $23,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Leonteq Securities AG purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $25,000. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $26,000. Kilter Group LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment during the 2nd quarter valued at approximately $27,000. Finally, Transamerica Financial Advisors LLC purchased a new position in Live Nation Entertainment during the second quarter valued at $27,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

NYSE LYV opened at $180.04 on Tuesday. The company has a 50-day moving average price of $181.43 and a 200-day moving average price of $168.12. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a market capitalization of $42.42 billion, a P/E ratio of -159.33 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares of the company's stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.89% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of several analyst reports. Oppenheimer set a $100.00 price target on Live Nation Entertainment in a report on Tuesday, July 28th. Citizens Jmp increased their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 22nd. Susquehanna upped their target price on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Rothschild & Co Redburn raised their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Finally, Zacks Research raised Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $197.19.

About Live Nation Entertainment

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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