Phoenix Financial Ltd. Has $2.38 Million Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• Phoenix Financial Ltd. cut its Live Nation stake by 27.9% in the fourth quarter, leaving it with 16,666 shares valued at about $2.38 million.
• Institutional interest in Live Nation remains strong overall, with hedge funds and other investors owning 74.52% of the stock and several firms recently increasing their positions.
• Despite a revenue beat in its latest earnings report, Live Nation posted a much larger-than-expected EPS loss; meanwhile, analysts remain largely positive with a Moderate Buy consensus and an average price target of $187.75.

Phoenix Financial Ltd. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 27.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,666 shares of the company's stock after selling 6,434 shares during the period. Phoenix Financial Ltd.'s holdings in Live Nation Entertainment were worth $2,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the period. Bessemer Group Inc. increased its stake in shares of Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock worth $262,733,000 after acquiring an additional 759,363 shares during the last quarter. Woodline Partners LP increased its stake in shares of Live Nation Entertainment by 3,475.4% in the third quarter. Woodline Partners LP now owns 609,574 shares of the company's stock worth $99,604,000 after acquiring an additional 592,525 shares during the last quarter. Holocene Advisors LP increased its stake in shares of Live Nation Entertainment by 127.6% in the third quarter. Holocene Advisors LP now owns 814,163 shares of the company's stock worth $133,034,000 after acquiring an additional 456,373 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Live Nation Entertainment by 1,853.0% in the third quarter. Tidal Investments LLC now owns 463,901 shares of the company's stock worth $75,801,000 after acquiring an additional 440,148 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYV. Susquehanna upped their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Zacks Research raised shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft upped 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 note on Wednesday, May 6th. Bank of America upped their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $187.75.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 157,798 shares of company stock worth $26,088,615 in the last quarter. 2.89% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Down 0.6%

Live Nation Entertainment stock opened at $169.00 on Friday. The company has a market capitalization of $39.81 billion, a P/E ratio of -95.48 and a beta of 1.11. The firm's fifty day simple moving average is $158.36 and its 200-day simple moving average is $149.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly 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 net margin of 0.15% and a return on equity of 45.92%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.32) EPS. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

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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