Fernbridge Capital Management LP Grows Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Fernbridge Capital Management LP grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 607,097 shares of the company’s stock after purchasing an additional 11,314 shares during the quarter. Live Nation Entertainment makes up approximately 3.8% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 12th largest position. Fernbridge Capital Management LP owned approximately 0.26% of Live Nation Entertainment worth $56,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new position in Live Nation Entertainment in the 1st quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Rise Advisors LLC increased its holdings in Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the period. Lindbrook Capital LLC raised its position in Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the transaction, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last ninety days. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $103.64 on Friday. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $95.64 and its 200-day simple moving average is $96.14. The company has a market cap of $23.81 billion, a PE ratio of 98.70, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the company earned $1.02 earnings per share. Live Nation Entertainment’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Benchmark reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $119.46.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.