Twin Tree Management LP Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Twin Tree Management LP bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,268 shares of the company’s stock, valued at approximately $393,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter valued at about $109,693,000. Epoch Investment Partners Inc. acquired a new stake in shares of Live Nation Entertainment during the first quarter valued at about $44,071,000. Harbor Spring Capital LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter valued at about $38,791,000. Acadian Asset Management LLC increased its position in shares of Live Nation Entertainment by 818.0% during the second quarter. Acadian Asset Management LLC now owns 1,086,576 shares of the company’s stock valued at $37,868,000 after acquiring an additional 968,217 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Live Nation Entertainment by 80.9% during the second quarter. Victory Capital Management Inc. now owns 1,516,512 shares of the company’s stock valued at $52,851,000 after acquiring an additional 678,283 shares during the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.

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LYV has been the subject of a number of recent analyst reports. Jefferies Group LLC lifted their price target on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, ValuEngine raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.71.

In related news, Director Ariel Emanuel sold 10,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $41.56, for a total value of $415,600.00. Following the sale, the director now owns 85,737 shares of the company’s stock, valued at approximately $3,563,229.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Capo sold 7,500 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the sale, the insider now directly owns 13,354 shares in the company, valued at approximately $540,837. The disclosure for this sale can be found here. 4.77% of the stock is owned by insiders.

Live Nation Entertainment, Inc. (LYV) opened at 43.50 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $26.41 and a 52 week high of $43.85. The company has a 50-day moving average of $39.56 and a 200-day moving average of $34.74. The stock has a market cap of $8.92 billion, a P/E ratio of 6214.29 and a beta of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.37 billion. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. Live Nation Entertainment’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post $0.22 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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