Josh Arnold Investment Consultant LLC Buys Shares of 26,790 Live Nation Entertainment, Inc. $LYV

Key Points

• Josh Arnold Investment Consultant LLC has acquired a new stake in Live Nation Entertainment, purchasing 26,790 shares valued at approximately $3.5 million, making it the firm's 3rd largest position.
• Live Nation reported $7.01 billion in revenue for its latest quarter, surpassing estimates, although it missed earnings expectations with $0.41 EPS compared to the consensus of $1.08.
• Analysts have set new price targets for Live Nation, with a consensus rating of "Buy" and an average target price of $168.94, indicating potential for growth despite recent earnings challenges.

Josh Arnold Investment Consultant LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,790 shares of the company's stock, valued at approximately $3,498,000. Live Nation Entertainment accounts for 2.9% of Josh Arnold Investment Consultant LLC's investment portfolio, making the stock its 3rd largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYV. AQR Capital Management LLC grew its holdings in Live Nation Entertainment by 80.2% during the 4th quarter. AQR Capital Management LLC now owns 38,730 shares of the company's stock valued at $5,016,000 after buying an additional 17,242 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Live Nation Entertainment by 17.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,021 shares of the company's stock worth $780,000 after buying an additional 899 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Live Nation Entertainment by 70.7% in the fourth quarter. Benjamin Edwards Inc. now owns 7,579 shares of the company's stock worth $981,000 after buying an additional 3,138 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Live Nation Entertainment in the fourth quarter worth $365,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth $345,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 0.6%

Shares of LYV stock traded up $0.96 on Tuesday, hitting $170.36. The stock had a trading volume of 2,141,733 shares, compared to its average volume of 2,435,587. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The business has a 50 day moving average price of $155.19 and a 200 day moving average price of $142.27. The company has a market cap of $39.94 billion, a PE ratio of 73.75, a P/E/G ratio of 11.02 and a beta of 1.42. Live Nation Entertainment, Inc. has a one year low of $93.64 and a one year high of $170.86.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its 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 net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter last year, the firm earned $1.03 EPS. Live Nation Entertainment's revenue for the quarter was up 16.3% on a year-over-year basis. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the subject of several research analyst reports. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research report on Thursday, July 24th. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Wolfe Research lifted their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Finally, Benchmark lifted their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Eighteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $170.72.

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.