Boothbay Fund Management LLC Raises Holdings in Live Nation Entertainment, Inc. $LYV

Boothbay Fund Management LLC grew its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,346 shares of the company’s stock after purchasing an additional 5,742 shares during the period. Boothbay Fund Management LLC’s holdings in Live Nation Entertainment were worth $14,272,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares in the last quarter. Norges Bank acquired a new stake in Live Nation Entertainment in the second quarter valued at approximately $198,336,000. Vanguard Group Inc. raised its stake in shares of Live Nation Entertainment by 2.1% during the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock valued at $3,071,954,000 after purchasing an additional 423,541 shares during the period. Holocene Advisors LP acquired a new position in shares of Live Nation Entertainment during the second quarter worth $54,126,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Live Nation Entertainment by 110.2% in the second quarter. Westfield Capital Management Co. LP now owns 677,730 shares of the company’s stock valued at $102,527,000 after purchasing an additional 355,279 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LYV shares. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Evercore reiterated an “outperform” rating and issued a $198.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Sanford C. Bernstein increased their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Moffett Nathanson reduced their target price on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.40.

Live Nation Entertainment Stock Down 3.9%

Live Nation Entertainment stock opened at $154.14 on Friday. The company’s 50-day moving average price is $151.35 and its two-hundred day moving average price is $150.30. The stock has a market cap of $36.19 billion, a price-to-earnings ratio of -642.25 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52 week low of $113.20 and a 52 week high of $175.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.01% of the company’s stock.

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.