CenterBook Partners LP Increases Stake in Live Nation Entertainment, Inc. $LYV

CenterBook Partners LP boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 28.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,000 shares of the company’s stock after purchasing an additional 6,823 shares during the quarter. CenterBook Partners LP’s holdings in Live Nation Entertainment were worth $4,690,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in LYV. Atria Wealth Solutions Inc. raised its stake in shares of Live Nation Entertainment by 108.1% during the first quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company’s stock valued at $475,000 after purchasing an additional 1,888 shares during the period. Aberdeen Group plc boosted its stake in shares of Live Nation Entertainment by 3.9% in the second quarter. Aberdeen Group plc now owns 93,543 shares of the company’s stock valued at $14,151,000 after purchasing an additional 3,542 shares during the period. Baird Financial Group Inc. increased its stake in Live Nation Entertainment by 6,183.8% during the 1st quarter. Baird Financial Group Inc. now owns 167,464 shares of the company’s stock worth $21,867,000 after buying an additional 164,799 shares during the period. Callan Family Office LLC lifted its holdings in Live Nation Entertainment by 78.6% in the 2nd quarter. Callan Family Office LLC now owns 10,009 shares of the company’s stock worth $1,514,000 after buying an additional 4,405 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Live Nation Entertainment by 8.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,057 shares of the company’s stock valued at $45,544,000 after buying an additional 23,905 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $130.45 on Friday. The stock’s 50 day simple moving average is $151.72 and its 200 day simple moving average is $151.14. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The firm has a market cap of $30.62 billion, a P/E ratio of 56.47, a P/E/G ratio of 12.85 and a beta of 1.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.81). The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 EPS. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LYV. Susquehanna lifted their target price on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Moffett Nathanson assumed coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Oppenheimer increased their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $174.68.

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.