Twinbeech Capital LP Makes New $18.71 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Twinbeech Capital LP bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 144,442 shares of the company's stock, valued at approximately $18,705,000. Twinbeech Capital LP owned about 0.06% of Live Nation Entertainment at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYV. Independent Franchise Partners LLP boosted its holdings in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after buying an additional 3,168,210 shares during the last quarter. Groupama Asset Managment bought a new position in Live Nation Entertainment during the fourth quarter worth about $259,000,000. Norges Bank bought a new position in Live Nation Entertainment during the fourth quarter worth about $255,955,000. Jericho Capital Asset Management L.P. boosted its holdings in Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after buying an additional 777,105 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Live Nation Entertainment by 54.2% during the fourth quarter. Capital World Investors now owns 1,707,284 shares of the company's stock worth $221,093,000 after buying an additional 599,784 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Roth Mkm cut their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities cut their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Morgan Stanley boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Susquehanna assumed coverage on Live Nation Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $155.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $162.07.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. This trade represents a 24.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last ninety days. 3.01% of the stock is owned by company insiders.

Live Nation Entertainment Stock Up 1.6%

LYV stock opened at $147.80 on Monday. The business's 50 day simple moving average is $129.40 and its 200 day simple moving average is $134.11. The firm has a market capitalization of $34.26 billion, a PE ratio of 54.34, a PEG ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS 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.

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