Voleon Capital Management LP Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Voleon Capital Management LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,509 shares of the company's stock, valued at approximately $3,692,000.

Other institutional investors have also made changes to their positions in the company. Amundi grew its holdings in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after purchasing an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its position in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $226,000. Aviva PLC grew its position in shares of Live Nation Entertainment by 1,524.1% in the fourth quarter. Aviva PLC now owns 97,057 shares of the company's stock valued at $12,569,000 after purchasing an additional 91,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Live Nation Entertainment by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock worth $132,088,000 after purchasing an additional 48,949 shares during the period. 74.52% of the stock is owned by institutional investors.

Insider Activity

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now directly owns 195,346 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Price Performance

LYV stock traded up $2.77 during midday trading on Friday, reaching $134.11. 3,356,734 shares of the company's stock traded hands, compared to its average volume of 2,250,620. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $31.30 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 1.81 and a beta of 1.31. The company has a 50-day simple moving average of $128.41 and a two-hundred day simple moving average of $132.25. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Susquehanna assumed coverage on Live Nation Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $155.00 price target on the stock. Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Bank of America increased their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, Roth Mkm cut their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $159.13.

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.