Kintayl Capital LP Purchases Shares of 8,882 Live Nation Entertainment, Inc. $LYV

Key Points

• Kintayl Capital LP acquired 8,882 Live Nation shares during the second quarter, valued at approximately $1.63 million. Institutional investors collectively own 74.52% of the company.
• Live Nation exceeded quarterly expectations, reporting $1.05 EPS versus the $0.66 consensus and $7.67 billion in revenue, up 9.4% year over year.
• Analyst sentiment remains positive, with 20 Buy ratings and four Holds; the stock has a “Moderate Buy” consensus and an average price target of $197.19.

Kintayl Capital LP acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,882 shares of the company's stock, valued at approximately $1,626,000.

Other institutional investors also recently modified their holdings of the company. Leonteq Securities AG purchased a new position in Live Nation Entertainment during the 4th quarter valued at about $25,000. Burkett Financial Services LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $26,000. Kilter Group LLC purchased a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Finally, Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth $30,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares of the company's stock, valued at approximately $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.89% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $186.48 on Wednesday. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $189.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm's 50-day moving average price is $180.63 and its 200-day moving average price is $167.08. The company has a market cap of $43.94 billion, a PE ratio of -165.03 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Wall Street Analyst Weigh In

LYV has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Citigroup raised their target price on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Sanford C. Bernstein boosted their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, UBS Group raised their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $197.19.

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.

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