Cantillon Capital Management LLC Acquires 1,632,749 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cantillon Capital Management LLC raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 146.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,746,801 shares of the company's stock after buying an additional 1,632,749 shares during the period. Live Nation Entertainment accounts for approximately 1.7% of Cantillon Capital Management LLC's portfolio, making the stock its 29th biggest holding. Cantillon Capital Management LLC owned 1.19% of Live Nation Entertainment worth $257,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its holdings in shares of Live Nation Entertainment by 5.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company's stock worth $730,863,000 after buying an additional 429,650 shares during the period. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company's stock valued at $590,301,000 after purchasing an additional 33,215 shares during the last quarter. Findlay Park Partners LLP lifted its position in shares of Live Nation Entertainment by 55.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company's stock worth $254,060,000 after purchasing an additional 1,087,264 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Live Nation Entertainment by 5.7% during the 3rd quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company's stock valued at $221,858,000 after purchasing an additional 144,326 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its holdings in Live Nation Entertainment by 52.8% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company's stock valued at $174,384,000 after buying an additional 726,000 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV traded down $0.01 on Friday, hitting $97.02. The stock had a trading volume of 1,657,341 shares, compared to its average volume of 2,287,224. The company has a market capitalization of $22.45 billion, a price-to-earnings ratio of 92.41, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The firm's 50 day moving average price is $98.76 and its 200-day moving average price is $92.07. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted ($0.25) earnings per share. Live Nation Entertainment's quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now directly owns 59,374 shares of the company's stock, valued at $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.85% of the company's stock.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. Roth Capital upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a research note on Thursday, January 11th. Oppenheimer boosted their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 21st. Redburn Atlantic upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating and increased their target price for the company from $114.00 to $115.00 in a research note on Thursday. TD Cowen restated a "buy" rating and set a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Finally, Rosenblatt Securities raised their price objective on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a "buy" rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.83.

Live Nation Entertainment Profile

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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