Davidson Kempner Capital Management LP Invests $3.99 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Davidson Kempner Capital Management LP purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 42,515 shares of the company’s stock, valued at approximately $3,985,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its holdings in shares of Live Nation Entertainment by 4.0% during the fourth quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock valued at $605,000 after purchasing an additional 249 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Live Nation Entertainment by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 767,248 shares of the company’s stock valued at $71,820,000 after purchasing an additional 22,104 shares in the last quarter. Brown Advisory Inc. bought a new position in Live Nation Entertainment in the 4th quarter worth $233,000. Coldstream Capital Management Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $225,000. Finally, Franklin Resources Inc. grew its holdings in Live Nation Entertainment by 22.3% during the 4th quarter. Franklin Resources Inc. now owns 58,542 shares of the company’s stock valued at $5,480,000 after buying an additional 10,661 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

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

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $103.64 on Monday. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. 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 firm has a market capitalization of $23.81 billion, a P/E ratio of 98.70, a P/E/G ratio of 2.29 and a beta of 1.34. The company’s fifty day moving average price is $95.64 and its 200 day moving average price is $96.11.

Live Nation Entertainment (NYSE:LYV) last announced 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). 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 quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LYV. Macquarie restated an “outperform” rating and issued a $125.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Oppenheimer lifted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. 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. Bank of America initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment Company 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.