CenterBook Partners LP Increases Stake in Live Nation Entertainment, Inc. $LYV

CenterBook Partners LP grew its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 780.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,143 shares of the company’s stock after buying an additional 19,627 shares during the quarter. CenterBook Partners LP’s holdings in Live Nation Entertainment were worth $3,155,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LYV. Empowered Funds LLC boosted its stake in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after buying an additional 547 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after buying an additional 109 shares during the period. Cerity Partners LLC boosted its stake in shares of Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after buying an additional 1,550 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after buying an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after buying an additional 1,711 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wolfe Research raised their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Evercore reissued an “outperform” rating and set a $198.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp initiated coverage on Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 target price on the stock. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.75.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $159.65 on Tuesday. The firm has a market capitalization of $37.60 billion, a PE ratio of -90.19 and a beta of 1.12. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $175.25. The stock’s 50-day simple moving average is $161.06 and its 200-day simple moving average is $151.80. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal 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.