Ardmore Road Asset Management LP Invests $15.25 Million in Live Nation Entertainment, Inc. $LYV

Ardmore Road Asset Management LP bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $15,251,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Delta Global Management LP bought a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $2,258,000. OMERS ADMINISTRATION Corp lifted its position in shares of Live Nation Entertainment by 5,799.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 900,794 shares of the company's stock worth $137,380,000 after purchasing an additional 885,524 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in Live Nation Entertainment by 368.1% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 68,557 shares of the company's stock worth $10,456,000 after purchasing an additional 53,910 shares during the last quarter. Lombard Odier Asset Management Switzerland SA bought a new position in Live Nation Entertainment in the first quarter valued at $242,000. Finally, Dorsey Asset Management LLC grew its position in Live Nation Entertainment by 0.8% in the first quarter. Dorsey Asset Management LLC now owns 607,609 shares of the company's stock valued at $92,666,000 after purchasing an additional 4,636 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. BTIG Research assumed coverage on Live Nation Entertainment in a report on Thursday. They set a "buy" rating and a $215.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Finally, Roth Capital reiterated a "buy" rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, July 15th. Twenty analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $195.95.

Insiders Place Their Bets

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

Live Nation Entertainment Stock Up 0.0%

Shares of LYV opened at $177.29 on Monday. The firm has a market cap of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $188.00. The firm's 50-day simple moving average is $173.49 and its 200 day simple moving average is $161.18.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned ($0.32) earnings per share. The company's revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current year.

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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