Eurizon Capital SGR S.p.A. Takes Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Eurizon Capital SGR initiated a new position in Live Nation Entertainment in the fourth quarter, buying 24,132 shares worth about $3.44 million.
• Institutional ownership remains high, with funds such as Principal Financial Group and Bessemer Group also increasing their stakes; institutions now own 74.52% of the company.
• Wall Street remains broadly upbeat on LYV, with 20 Buy ratings and a consensus Moderate Buy price target of $187.75, even after the company recently posted a wider-than-expected quarterly loss despite higher revenue.

Eurizon Capital SGR S.p.A. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 24,132 shares of the company's stock, valued at approximately $3,439,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LYV. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 10.3% in the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock valued at $1,528,700,000 after acquiring an additional 1,001,905 shares during the period. Bessemer Group Inc. grew its position in shares of Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock valued at $262,733,000 after acquiring an additional 759,363 shares during the period. Woodline Partners LP lifted its stake in shares of Live Nation Entertainment by 3,475.4% during the 3rd quarter. Woodline Partners LP now owns 609,574 shares of the company's stock worth $99,604,000 after buying an additional 592,525 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Live Nation Entertainment by 127.6% during the 3rd quarter. Holocene Advisors LP now owns 814,163 shares of the company's stock worth $133,034,000 after buying an additional 456,373 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Live Nation Entertainment by 1,853.0% during the 3rd quarter. Tidal Investments LLC now owns 463,901 shares of the company's stock worth $75,801,000 after buying an additional 440,148 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Roth Mkm restated a "buy" rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Susquehanna raised their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Finally, Oppenheimer restated an "outperform" rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average price target of $187.75.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 944 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares of the company's stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company's stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 157,798 shares of company stock worth $26,088,615 over the last three months. Insiders own 2.89% of the company's stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $170.36 on Tuesday. The company has a 50-day simple moving average of $159.97 and a two-hundred day simple moving average of $150.84. The stock has a market capitalization of $40.13 billion, a price-to-earnings ratio of -96.25 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) 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 firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Live Nation Entertainment's quarterly revenue was up 12.1% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

Live Nation Entertainment Company 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.

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.