Freemont Management S.A. Makes New $1.67 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Freemont Management S.A. acquired a new position in Live Nation Entertainment, purchasing 12,800 shares valued at approximately $1,671,000.
• Multiple hedge funds, including Independent Franchise Partners LLP and Groupama Asset Management, have significantly increased their stakes in Live Nation, reflecting a growing institutional interest.
• Wall Street analysts have assigned a "Moderate Buy" rating to Live Nation, with an average price target of $166.12, despite recent earnings falling short of expectations.

Freemont Management S.A. bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,800 shares of the company's stock, valued at approximately $1,671,000.

Other large investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $1,153,000. Praxis Investment Management Inc. grew its position in Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after purchasing an additional 1,730 shares during the period. Stratos Wealth Partners LTD. bought a new stake in Live Nation Entertainment in the 1st quarter worth approximately $272,000. Teacher Retirement System of Texas bought a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $3,081,000. Finally, Personal CFO Solutions LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $277,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 1.7%

NYSE:LYV traded down $2.57 during mid-day trading on Tuesday, hitting $150.52. 755,220 shares of the stock traded hands, compared to its average volume of 2,502,610. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 5.96 and a beta of 1.45. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75. The firm's 50 day moving average is $146.04 and its two-hundred day moving average is $139.10. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43.

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 the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LYV shares. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a research note on Tuesday, June 10th. Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim reiterated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday. Finally, Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.82.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Company 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.