Cantillon Capital Management LLC Has $375.95 Million Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Cantillon Capital Management cut its Live Nation position by 11.9% in Q1, but still held 2.47 million shares worth about $375.95 million, making LYV its 17th-largest holding.
• Live Nation’s latest quarter showed a mixed result: revenue rose 12.1% year over year to $3.79 billion and beat estimates, but EPS came in at -$1.85, far worse than expected.
• Analyst sentiment remains positive overall, with 20 Buy ratings and an average Moderate Buy rating; several firms also raised price targets, including Wells Fargo to $222.

Cantillon Capital Management LLC decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 11.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,465,059 shares of the company's stock after selling 332,146 shares during the quarter. Live Nation Entertainment makes up approximately 2.5% of Cantillon Capital Management LLC's portfolio, making the stock its 17th largest holding. Cantillon Capital Management LLC owned 1.05% of Live Nation Entertainment worth $375,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Leonteq Securities AG bought a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $30,000. DV Equities LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth $31,000. Finally, Blue Trust Inc. increased its position in Live Nation Entertainment by 62.6% during the fourth quarter. Blue Trust Inc. now owns 278 shares of the company's stock worth $40,000 after acquiring an additional 107 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Susquehanna raised their price objective on Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Live Nation Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus price target of $190.90.

Live Nation Entertainment Stock Up 0.1%

Shares of LYV opened at $180.31 on Monday. The business's 50 day simple moving average is $172.41 and its 200-day simple moving average is $159.98. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00. The company has a market capitalization of $42.47 billion, a P/E ratio of -101.87 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results 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 company earned ($0.32) EPS. The firm's quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.96 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 204,716 shares of the company's stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by corporate insiders.

Live Nation Entertainment 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.

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.