Troluce Capital Advisors LLC Purchases Shares of 330,000 Live Nation Entertainment, Inc. $LYV

Key Points

• Troluce Capital Advisors acquired 330,000 Live Nation shares worth approximately $50.3 million, making LYV its fifth-largest portfolio holding and representing a 0.14% stake.
• Live Nation reported quarterly revenue of $3.79 billion, up 12.1% year over year and above estimates, but its adjusted loss of $1.85 per share significantly missed the $0.35 consensus forecast.
• Analysts remain broadly bullish, with 20 Buy ratings and an average price target of $195.95; however, two executive vice presidents recently sold a combined 156,854 shares.

Troluce Capital Advisors LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 330,000 shares of the company's stock, valued at approximately $50,328,000. Live Nation Entertainment comprises approximately 3.1% of Troluce Capital Advisors LLC's investment portfolio, making the stock its 5th largest position. Troluce Capital Advisors LLC owned 0.14% of Live Nation Entertainment at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LYV. Norges Bank bought a new position in Live Nation Entertainment in the 4th quarter valued at about $285,924,000. Sachem Head Capital Management LP acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $173,380,000. Jericho Capital Asset Management L.P. increased its stake in shares of Live Nation Entertainment by 37.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock worth $569,503,000 after purchasing an additional 1,099,350 shares during the period. First Trust Advisors LP increased its stake in shares of Live Nation Entertainment by 653.7% during the fourth quarter. First Trust Advisors LP now owns 1,191,347 shares of the company's stock worth $169,767,000 after purchasing an additional 1,033,289 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 0.0%

Shares of NYSE LYV opened at $177.29 on Monday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11. The company's 50 day moving average price is $173.49 and its 200-day moving average price is $161.18. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $188.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion during 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 business's revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted ($0.32) earnings per share. Equities analysts forecast that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. Citigroup reissued a "market outperform" rating on shares of Live Nation Entertainment in a research report on Wednesday. UBS Group raised their price objective on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Live Nation Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Finally, Wells Fargo & Company boosted their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Twenty investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $195.95.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowles sold 63,776 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares of the company's stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by insiders.

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.

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