Night Squared LP Buys New Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Night Squared LP has acquired a new stake in Live Nation Entertainment, purchasing 16,313 shares valued at approximately $2,130,000 in the first quarter.
• Live Nation reported $7.01 billion in revenue during its latest quarter, beating analyst estimates of $6.93 billion, but missed EPS expectations by a significant margin.
• The stock currently holds an average price target of $168.94 from eighteen research analysts, with most rating it as a "Buy".

Night Squared LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,313 shares of the company's stock, valued at approximately $2,130,000.

A number of other large investors have also made changes to their positions in the stock. Baird Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 6,183.8% during the first quarter. Baird Financial Group Inc. now owns 167,464 shares of the company's stock valued at $21,867,000 after acquiring an additional 164,799 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Live Nation Entertainment by 10.9% during the first quarter. Vident Advisory LLC now owns 3,547 shares of the company's stock valued at $463,000 after acquiring an additional 348 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Live Nation Entertainment by 4.4% during the first quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company's stock valued at $1,179,129,000 after acquiring an additional 379,924 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Live Nation Entertainment by 23.5% during the first quarter. Landscape Capital Management L.L.C. now owns 2,916 shares of the company's stock valued at $381,000 after acquiring an additional 554 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Live Nation Entertainment by 56.1% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 6,285 shares of the company's stock valued at $821,000 after acquiring an additional 2,260 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Ratings Changes

LYV has been the topic of a number of analyst reports. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research note on Thursday, July 24th. Sanford C. Bernstein started coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price on the stock. Oppenheimer increased their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Guggenheim reiterated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Wolfe Research increased 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. Eighteen research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Trading Down 0.6%

Shares of Live Nation Entertainment stock traded down $1.07 during trading hours on Tuesday, reaching $165.42. The stock had a trading volume of 1,461,293 shares, compared to its average volume of 1,989,830. The firm has a 50 day simple moving average of $153.60 and a two-hundred day simple moving average of $141.85. The firm has a market capitalization of $38.79 billion, a price-to-earnings ratio of 72.07, a P/E/G ratio of 10.04 and a beta of 1.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 1 year low of $92.57 and a 1 year high of $167.22.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.