Triple Frond Partners LLC Invests $36.46 Million in Live Nation Entertainment, Inc. $LYV

Triple Frond Partners LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, HoldingsChannel reports. The firm bought 255,858 shares of the company’s stock, valued at approximately $36,460,000. Live Nation Entertainment accounts for 3.8% of Triple Frond Partners LLC’s holdings, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYV. Empowered Funds LLC boosted its holdings in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares during the period. Cerity Partners LLC boosted its holdings in shares of Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after purchasing an additional 1,550 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after purchasing an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

LYV opened at $172.35 on Friday. The business has a fifty day moving average of $162.57 and a 200 day moving average of $152.73. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $40.60 billion, a P/E ratio of -97.37 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) EPS. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LYV shares. UBS Group lifted their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Roth Mkm restated a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Evercore restated an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Wolfe Research boosted their price objective on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.50.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.