Zweig DiMenna Associates LLC Acquires New Shares in Live Nation Entertainment, Inc. $LYV

Zweig DiMenna Associates LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,900 shares of the company’s stock, valued at approximately $6,187,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. purchased a new position in Live Nation Entertainment in the first quarter worth about $272,000. Teacher Retirement System of Texas purchased a new position in Live Nation Entertainment in the first quarter worth about $3,081,000. Personal CFO Solutions LLC purchased a new position in Live Nation Entertainment in the first quarter worth about $277,000. Massachusetts Financial Services Co. MA raised its stake in shares of Live Nation Entertainment by 46.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock worth $366,195,000 after buying an additional 884,745 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in shares of Live Nation Entertainment by 1.5% in the first quarter. Stephens Investment Management Group LLC now owns 702,744 shares of the company’s stock worth $91,764,000 after buying an additional 10,357 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

LYV opened at $149.70 on Friday. The stock has a market cap of $35.10 billion, a P/E ratio of 64.81, a P/E/G ratio of 12.85 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $160.60 and its 200 day simple moving average is $150.54. Live Nation Entertainment, Inc. has a 1-year low of $112.88 and a 1-year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of several recent research reports. Moffett Nathanson initiated coverage on Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective on the stock. Benchmark raised their price objective on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Rothschild & Co Redburn downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Citigroup decreased their price objective on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $171.89.

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.