Kingstone Capital Partners Texas LLC Purchases New Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Kingstone Capital Partners Texas LLC made a significant investment of approximately $128.70 million in Live Nation Entertainment, acquiring 850,770 shares, which represents about 0.37% ownership in the company.
• Live Nation Entertainment reported a net margin of 3.88% and a revenue increase of 16.3% year-over-year for the latest quarter, despite missing earnings per share estimates.
• Analysts have varying target prices for Live Nation's stock, with a consensus price target of $170.68 and the majority rating it as a "Moderate Buy."

Kingstone Capital Partners Texas LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 850,770 shares of the company's stock, valued at approximately $128,704,000. Kingstone Capital Partners Texas LLC owned approximately 0.37% of Live Nation Entertainment at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $201,501,000. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 21.4% in the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after acquiring an additional 1,004,574 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after purchasing an additional 884,745 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Live Nation Entertainment by 83.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company's stock worth $207,490,000 after purchasing an additional 723,112 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after purchasing an additional 713,020 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYV has been the subject of several recent research reports. Citigroup upped their target price on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Guggenheim reaffirmed a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Benchmark raised their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target for the company. Finally, Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and lifted their price target for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Eighteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $170.68.

Live Nation Entertainment Trading Down 0.6%

Shares of LYV traded down $0.99 during trading hours on Friday, reaching $163.69. 3,822,583 shares of the company traded hands, compared to its average volume of 2,047,208. The company's fifty day moving average price is $159.36 and its two-hundred day moving average price is $143.98. The company has a market capitalization of $38.38 billion, a price-to-earnings ratio of 70.86, a price-to-earnings-growth ratio of 11.04 and a beta of 1.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 12 month low of $102.72 and a 12 month high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.