TimesSquare Capital Management LLC Invests $44.41 Million in Live Nation Entertainment, Inc. $LYV

TimesSquare Capital Management LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, HoldingsChannel reports. The fund purchased 242,557 shares of the company’s stock, valued at approximately $44,415,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP lifted its position in shares of Live Nation Entertainment by 3.5% during the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after purchasing an additional 193,104 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. Finally, Cantillon Capital Management LLC increased its holdings in Live Nation Entertainment by 0.8% in the fourth quarter. Cantillon Capital Management LLC now owns 2,797,205 shares of the company’s stock valued at $398,602,000 after buying an additional 21,246 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LYV. Citigroup increased their target price on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. BTIG Research reiterated a “buy” rating and issued a $215.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Rothschild & Co Redburn raised their price objective on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Benchmark increased their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Trading Down 2.2%

Shares of NYSE LYV opened at $184.28 on Tuesday. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The company has a market cap of $43.42 billion, a price-to-earnings ratio of -163.08 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock’s 50 day simple moving average is $179.13 and its 200 day simple moving average is $165.45.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Live Nation Entertainment Profile

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.