Live Nation Entertainment, Inc. (NYSE:LYV) Stake Raised by D1 Capital Partners L.P.

D1 Capital Partners L.P. increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 44.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,543,532 shares of the company’s stock after purchasing an additional 1,093,000 shares during the quarter. Live Nation Entertainment accounts for approximately 5.6% of D1 Capital Partners L.P.’s portfolio, making the stock its 4th biggest position. D1 Capital Partners L.P. owned about 1.54% of Live Nation Entertainment worth $332,171,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in Live Nation Entertainment during the 1st quarter worth about $32,000. Rise Advisors LLC grew its position in shares of Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after buying an additional 159 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Lindbrook Capital LLC raised its holdings in Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after acquiring an additional 119 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 0.7 %

Shares of NYSE:LYV opened at $103.64 on Monday. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 98.70, a PEG ratio of 2.29 and a beta of 1.34. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The firm’s 50-day simple moving average is $95.64 and its 200-day simple moving average is $96.11. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $119.46.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,000 shares of company stock worth $17,238,181. 2.85% of the stock is owned by corporate insiders.

About Live Nation Entertainment

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.