Border to Coast Pensions Partnership Ltd Takes Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Border to Coast Pensions Partnership Ltd opened a new position in Live Nation Entertainment in the first quarter, buying 172,269 shares valued at about $26.4 million.
• Two Live Nation executives, John Hopmans and Michael Rowles, sold substantial portions of their holdings in May, while insiders still own about 2.89% of the stock.
• Live Nation reported quarterly EPS of ($1.85), missing estimates, but revenue came in at $3.79 billion, above expectations and up 12.1% year over year; analysts still largely rate the stock a Moderate Buy with an average target of $188.50.

Border to Coast Pensions Partnership Ltd purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 172,269 shares of the company's stock, valued at approximately $26,353,000. Border to Coast Pensions Partnership Ltd owned approximately 0.07% of Live Nation Entertainment at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock valued at $262,733,000 after purchasing an additional 759,363 shares in the last quarter. Geode Capital Management LLC lifted its position in Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock worth $610,707,000 after buying an additional 20,165 shares in the last quarter. L2 Asset Management LLC lifted its position in Live Nation Entertainment by 70.4% during the third quarter. L2 Asset Management LLC now owns 35,019 shares of the company's stock worth $5,722,000 after buying an additional 14,470 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Live Nation Entertainment by 14.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company's stock worth $88,227,000 after buying an additional 78,171 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company's stock valued at $455,355,000 after buying an additional 123,800 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insider Buying and Selling

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

Live Nation Entertainment Stock Performance

NYSE LYV opened at $179.44 on Friday. The stock has a fifty day simple moving average of $165.03 and a 200-day simple moving average of $155.56. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $42.27 billion, a PE ratio of -101.38 and a beta of 1.12. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $180.92.

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 net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter last year, the firm posted ($0.32) earnings per share. The firm's quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on LYV shares. Guggenheim lifted their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $190.00 to $192.00 in a research report on Wednesday, May 6th. Susquehanna boosted their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Finally, Zacks Research raised shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.

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