CenterBook Partners LP Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

CenterBook Partners LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,177 shares of the company's stock, valued at approximately $3,157,000.

Several other large investors also recently made changes to their positions in the business. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $29,000. Wayfinding Financial LLC bought a new position in Live Nation Entertainment during the first quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment during the first quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $40,000. Finally, GW&K Investment Management LLC raised its position in shares of Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after purchasing an additional 283 shares during the period. Institutional investors own 74.52% of the company's stock.

Insiders Place Their Bets

In related news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Guggenheim restated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Roth Mkm reduced their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. Rosenblatt Securities cut their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wolfe Research boosted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.24.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $0.12 during mid-day trading on Friday, reaching $150.60. The company had a trading volume of 1,470,723 shares, compared to its average volume of 2,550,862. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75. The firm has a market cap of $34.90 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 5.76 and a beta of 1.45. The business's 50-day simple moving average is $144.84 and its 200 day simple moving average is $137.88.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The firm's revenue for the quarter was down 11.0% on a year-over-year basis. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.