Cantillon Capital Management LLC Has $424.58 Million Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Cantillon Capital Management LLC has reduced its position in Live Nation Entertainment, Inc. (LYV) by 2.8%, owning approximately 2.81 million shares worth $424.58 million.
• Live Nation's recent quarterly earnings fell short of estimates, reporting $0.41 EPS against a consensus of $1.08, but its revenue of $7.01 billion exceeded analyst expectations.
• The stock has a consensus rating of "Moderate Buy" among analysts, with a price target range of $171.42 and several upgrades from firms like Benchmark and Citigroup.

Cantillon Capital Management LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,806,585 shares of the company's stock after selling 81,487 shares during the quarter. Live Nation Entertainment accounts for 2.5% of Cantillon Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Cantillon Capital Management LLC owned about 1.21% of Live Nation Entertainment worth $424,580,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LYV. GAMMA Investing LLC raised its stake in Live Nation Entertainment by 24.5% during the 1st quarter. GAMMA Investing LLC now owns 3,914 shares of the company's stock valued at $511,000 after purchasing an additional 771 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Live Nation Entertainment by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company's stock valued at $487,000 after acquiring an additional 154 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Live Nation Entertainment by 65.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,590 shares of the company's stock valued at $1,252,000 after acquiring an additional 3,788 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Live Nation Entertainment during the 1st quarter valued at $599,000. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Live Nation Entertainment by 32.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,655 shares of the company's stock valued at $347,000 after acquiring an additional 645 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 0.3%

Shares of LYV opened at $157.18 on Wednesday. The company has a 50-day simple moving average of $162.25 and a 200-day simple moving average of $148.96. The firm has a market capitalization of $36.85 billion, a P/E ratio of 68.04, a P/E/G ratio of 12.24 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company earned $1.03 EPS. The business's revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LYV shares. Benchmark upped their price objective on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Rothschild Redb cut shares of Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They set a "buy" rating and a $195.00 price target for the company. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a report on Thursday, July 24th. Finally, Citigroup upped their price target on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.42.

Live Nation Entertainment 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.

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