Live Nation Entertainment, Inc. $LYV Stock Position Reduced by Bain Capital Public Equity LP

Bain Capital Public Equity LP cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 89.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,615 shares of the company’s stock after selling 45,416 shares during the period. Live Nation Entertainment makes up about 0.5% of Bain Capital Public Equity LP’s portfolio, making the stock its 6th largest holding. Bain Capital Public Equity LP’s holdings in Live Nation Entertainment were worth $800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in Live Nation Entertainment by 70.0% during the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares in the last quarter. Geode Capital Management LLC grew its position in 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 valued at $610,707,000 after purchasing an additional 20,165 shares in the last quarter. L2 Asset Management LLC grew its position in Live Nation Entertainment by 70.4% during the third quarter. L2 Asset Management LLC now owns 35,019 shares of the company’s stock valued at $5,722,000 after purchasing an additional 14,470 shares in the last quarter. Vanguard Group Inc. grew its position in Live Nation Entertainment by 1.8% during the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after purchasing an additional 372,715 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Live Nation Entertainment by 14.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock valued at $88,227,000 after purchasing an additional 78,171 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

LYV stock opened at $174.14 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market capitalization of $41.02 billion, a price-to-earnings ratio of -98.39 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $176.00. The firm has a 50 day moving average of $163.32 and a two-hundred day moving average of $153.55.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during 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%.Live Nation Entertainment’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on LYV shares. Bank of America boosted their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Susquehanna boosted their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Roth Mkm reissued a “buy” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $188.50.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by corporate insiders.

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.