Waratah Capital Advisors Ltd. Decreases Holdings in Live Nation Entertainment, Inc. $LYV

Waratah Capital Advisors Ltd. cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,106 shares of the company’s stock after selling 3,547 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Live Nation Entertainment were worth $3,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Live Nation Entertainment by 3.4% during the second quarter. Asset Management One Co. Ltd. now owns 67,093 shares of the company’s stock worth $10,150,000 after purchasing an additional 2,191 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Live Nation Entertainment by 4.2% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,396 shares of the company’s stock valued at $56,487,000 after purchasing an additional 14,994 shares during the period. Wealthfront Advisers LLC grew its holdings in Live Nation Entertainment by 161.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 16,612 shares of the company’s stock valued at $2,513,000 after purchasing an additional 10,269 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Live Nation Entertainment by 4.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,439 shares of the company’s stock worth $2,638,000 after buying an additional 688 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $158.10 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. The company has a market capitalization of $37.12 billion, a price-to-earnings ratio of -658.74, a price-to-earnings-growth ratio of 18.85 and a beta of 1.18. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The business has a 50 day simple moving average of $146.85 and a 200-day simple moving average of $150.37.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYV. Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday. Guggenheim lowered their price objective on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Rothschild & Co Redburn reduced their target price on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, Susquehanna lifted their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.95.

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.