Live Nation Entertainment, Inc. $LYV Shares Bought by Cantillon Capital Management LLC

Key Points

• Cantillon Capital Management increased its stake in Live Nation by 0.8% in the fourth quarter, holding about 2.8 million shares worth roughly $398.6 million at the end of the period.
• Institutional ownership remains high, with hedge funds and other investors owning 74.52% of Live Nation’s stock, while several analysts maintained bullish views and the stock carries an average Moderate Buy rating with a $187.75 target price.
• Live Nation recently reported revenue beat expectations for the quarter, but earnings missed estimates; meanwhile, insiders have been selling shares, including an EVP who sold over 93,000 shares in May.

Cantillon Capital Management LLC raised its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,797,205 shares of the company's stock after acquiring an additional 21,246 shares during the quarter. Live Nation Entertainment accounts for about 2.2% of Cantillon Capital Management LLC's investment portfolio, making the stock its 22nd largest holding. Cantillon Capital Management LLC owned approximately 1.19% of Live Nation Entertainment worth $398,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. lifted its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after acquiring an additional 84 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. acquired a new position in Live Nation Entertainment during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth $30,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in Live Nation Entertainment during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of several research analyst reports. Zacks Research raised Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Roth Mkm restated a "buy" rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Guggenheim raised their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Evercore restated an "outperform" rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $187.75.

Insider Buying and Selling

In related news, EVP John Hopmans sold 93,078 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 944 shares of the firm's stock in a transaction that occurred 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 directly owned 48,030 shares of the company's stock, valued at $7,966,736.10. This represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 157,798 shares of company stock valued at $26,088,615. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $160.13 on Monday. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market capitalization of $37.72 billion, a price-to-earnings ratio of -90.47 and a beta of 1.12. The firm has a 50-day moving average of $160.87 and a two-hundred day moving average of $151.60.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. As a group, analysts expect that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.