MBB Public Markets I LLC Makes New $337,000 Investment in Live Nation Entertainment, Inc. $LYV

Key Points

• MBB Public Markets I LLC acquired a stake of 2,583 shares, valued at approximately $337,000, in Live Nation Entertainment, Inc. (LYV) during the first quarter of the year.
• Live Nation reported a net revenue of $7.01 billion for the last quarter, exceeding analysts' expectations of $6.93 billion, despite missing earnings per share estimates.
• Analysts maintain a consensus "Buy" rating for Live Nation, with price targets ranging from $168.00 to $185.00, reflecting optimism for the company's performance.

MBB Public Markets I LLC purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,583 shares of the company's stock, valued at approximately $337,000.

Other hedge funds also recently bought and sold shares of the company. Measured Risk Portfolios Inc. bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $29,000. Wayfinding Financial LLC bought a new stake in Live Nation Entertainment during the first quarter valued at about $30,000. Chilton Capital Management LLC bought a new stake in Live Nation Entertainment during the first quarter valued at about $33,000. GW&K Investment Management LLC boosted its holdings in Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in Live Nation Entertainment during the first quarter valued at about $42,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded down $0.31 during midday trading on Friday, reaching $173.75. The company had a trading volume of 1,310,069 shares, compared to its average volume of 2,429,872. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $40.74 billion, a price-to-earnings ratio of 75.22, a price-to-earnings-growth ratio of 11.53 and a beta of 1.42. The stock has a fifty day simple moving average of $156.53 and a 200 day simple moving average of $142.79. Live Nation Entertainment, Inc. has a 1-year low of $97.40 and a 1-year high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. 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. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Citigroup increased 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 note on Tuesday. Finally, Oppenheimer increased their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Eighteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target 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.