Arlington Partners LLC Acquires New Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Arlington Partners LLC has acquired a new position in Live Nation Entertainment, purchasing 17,128 shares valued at approximately $2.59 million.
• Live Nation's recent earnings report showed a missed EPS estimate of $0.41 compared to the consensus estimate of $1.08, despite revenues beating expectations at $7.01 billion.
• The stock currently has a Moderate Buy rating from analysts, with an average price target of $170.68.

Arlington Partners LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,128 shares of the company's stock, valued at approximately $2,591,000.

A number of other hedge funds also recently bought and sold shares of LYV. Vident Advisory LLC lifted its position in Live Nation Entertainment by 68.0% during the 4th quarter. Vident Advisory LLC now owns 3,199 shares of the company's stock worth $414,000 after buying an additional 1,295 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $334,000. Neo Ivy Capital Management acquired a new position in Live Nation Entertainment in the fourth quarter valued at about $102,000. Public Employees Retirement System of Ohio bought a new position in Live Nation Entertainment in the fourth quarter valued at about $9,449,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Live Nation Entertainment by 655.9% during the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company's stock worth $11,761,000 after purchasing an additional 78,807 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

LYV stock traded up $1.51 during trading on Monday, hitting $165.23. The stock had a trading volume of 1,962,881 shares, compared to its average volume of 2,142,613. The stock has a market capitalization of $38.74 billion, a P/E ratio of 71.53, a PEG ratio of 11.04 and a beta of 1.42. 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's 50-day moving average price is $159.70 and its two-hundred day moving average price is $144.34. Live Nation Entertainment, Inc. has a twelve month low of $103.28 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the subject of several recent research reports. Guggenheim reiterated a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Wolfe Research lifted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Sanford C. Bernstein assumed coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective for the company. Moffett Nathanson started coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective for the company. Finally, Oppenheimer boosted their price target on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Eighteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.68.

Live Nation Entertainment Company 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.