Anfield Capital Management LLC Invests $1.27 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Anfield Capital Management LLC invested $1.27 million in Live Nation Entertainment, acquiring 9,729 shares of the company's stock in the first quarter.
• Live Nation's quarterly earnings report indicated an EPS of $0.41, significantly below the analysts' consensus estimate of $1.08, although its revenue of $7.01 billion surpassed expectations.
• Wall Street analysts have set a consensus price target of $165.94 for Live Nation's stock, with 17 buy ratings and one hold rating, reflecting a generally positive outlook.

Anfield Capital Management LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 9,729 shares of the company's stock, valued at approximately $1,270,000.

A number of other institutional investors have also modified their holdings of LYV. Robeco Institutional Asset Management B.V. purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $1,153,000. Praxis Investment Management Inc. boosted its holdings in Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after acquiring an additional 1,730 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $272,000. Teacher Retirement System of Texas purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $3,081,000. Finally, Personal CFO Solutions LLC purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $277,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insider Buying and Selling

In other news, EVP John Hopmans sold 34,808 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the transaction, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research upped their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Benchmark upped their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Rosenblatt Securities cut their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Sanford C. Bernstein assumed coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.94.

Live Nation Entertainment Stock Performance

LYV stock opened at $154.48 on Tuesday. The firm has a market cap of $36.22 billion, a P/E ratio of 66.87, a P/E/G ratio of 5.06 and a beta of 1.46. The stock's 50 day simple moving average is $147.72 and its 200 day simple moving average is $140.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 12-month low of $91.25 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 105.85% and a net margin of 3.88%. Live Nation Entertainment's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.

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