Quantbot Technologies LP Makes New Investment in Live Nation Entertainment, Inc. $LYV

Key Points

• Quantbot Technologies LP acquired 17,799 shares of Live Nation Entertainment in the second quarter, valued at approximately $3.26 million. Institutional investors collectively own 74.52% of the company.
• Live Nation reported stronger-than-expected quarterly results, with EPS of $1.05 versus estimates of $0.66 and revenue of $7.67 billion, up 9.4% year over year.
• Analysts remain broadly positive, with 20 Buy ratings and four Holds. The stock has a “Moderate Buy” consensus and an average price target of $197.19, above its reported price of $182.28.

Quantbot Technologies LP acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 17,799 shares of the company's stock, valued at approximately $3,259,000.

A number of other hedge funds also recently made changes to their positions in LYV. Bessemer Group Inc. grew its position in shares of Live Nation Entertainment by 70.0% during the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock valued at $262,733,000 after acquiring an additional 759,363 shares during the period. Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock valued at $610,707,000 after purchasing an additional 20,165 shares during the period. CenterBook Partners LP increased its position in Live Nation Entertainment by 780.1% in the fourth quarter. CenterBook Partners LP now owns 22,143 shares of the company's stock worth $3,155,000 after buying an additional 19,627 shares during the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Live Nation Entertainment in the first quarter valued at $50,328,000. Finally, ProShare Advisors LLC lifted its position in shares of Live Nation Entertainment by 45.0% during the 4th quarter. ProShare Advisors LLC now owns 41,642 shares of the company's stock valued at $5,934,000 after buying an additional 12,916 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.3%

NYSE LYV opened at $182.28 on Monday. 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 stock's 50-day simple moving average is $180.20 and its two-hundred day simple moving average is $166.47. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $189.24. The company has a market capitalization of $42.95 billion, a price-to-earnings ratio of -161.31 and a beta of 1.12.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LYV shares. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $192.00 to $202.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 31st. Citigroup increased their price objective on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Susquehanna raised their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, UBS Group increased their price target 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $197.19.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source