Boothbay Fund Management LLC Buys 19,941 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Boothbay Fund Management increased its Live Nation Entertainment stake by 22.8% in the fourth quarter, buying 19,941 more shares and bringing its total holdings to 107,287 shares valued at about $15.3 million.
• Insider selling was notable, with EVP John Hopmans and EVP Michael Rowles both selling large blocks of LYV shares in May, reducing their positions by 33.03% and 23.75%, respectively.
• Live Nation’s latest earnings showed revenue of $3.79 billion, above expectations and up 12.1% year over year, but EPS of ($1.85) missed analyst estimates by a wide margin.

Boothbay Fund Management LLC grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,287 shares of the company's stock after acquiring an additional 19,941 shares during the quarter. Boothbay Fund Management LLC's holdings in Live Nation Entertainment were worth $15,288,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LYV. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $25,000. Nvest Wealth Strategies Inc. purchased a new position in Live Nation Entertainment in the 4th quarter worth approximately $26,000. Ameriflex Group Inc. raised its holdings in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after acquiring an additional 84 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $30,000. Finally, DV Equities LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $31,000. 74.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares of the company's stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares of the company's stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company's stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $171.41 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $176.00. 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 company has a market capitalization of $40.37 billion, a P/E ratio of -96.84 and a beta of 1.12. The stock's fifty day moving average is $163.55 and its two-hundred day moving average is $153.83.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) 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 business had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the prior year, the firm earned ($0.32) EPS. Live Nation Entertainment's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on LYV shares. Wall Street Zen raised Live Nation Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Evercore restated an "outperform" rating and set a $198.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Wells Fargo & Company decreased their price target on Live Nation Entertainment from $203.00 to $199.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, Benchmark reiterated a "buy" rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $188.50.

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.

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.