Curated Wealth Partners LLC Makes New $1.12 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Curated Wealth Partners LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,576 shares of the company's stock, valued at approximately $1,120,000.

A number of other institutional investors have also modified their holdings of LYV. Independent Franchise Partners LLP increased its position in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after acquiring an additional 3,168,210 shares during the period. Groupama Asset Managment purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $259,000,000. Norges Bank purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $255,955,000. Jericho Capital Asset Management L.P. increased its holdings in Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after buying an additional 777,105 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $88,394,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYV has been the topic of several research reports. Bank of America lifted their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Macquarie lifted their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Benchmark reaffirmed a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average price target of $164.35.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president now directly owns 189,456 shares in the company, valued at $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.01% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV traded down $3.23 on Friday, hitting $138.08. 1,794,105 shares of the company were exchanged, compared to its average volume of 2,317,848. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The stock's 50 day moving average price is $136.62 and its 200 day moving average price is $135.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $32.00 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company's quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.