Kintayl Capital LP Invests $1.63 Million in Live Nation Entertainment, Inc. $LYV

Kintayl Capital LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,882 shares of the company’s stock, valued at approximately $1,626,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new stake in Live Nation Entertainment during the second quarter valued at about $48,496,000. EFG International AG bought a new position in shares of Live Nation Entertainment in the second quarter worth about $9,158,000. Ancora Advisors LLC bought a new position in shares of Live Nation Entertainment in the second quarter worth about $563,000. Primecap Management Co. CA bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $133,161,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $859,018,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on LYV. Roth Capital set a $208.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Wells Fargo & Company raised their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Citizens Jmp increased their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. Twenty equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Price Performance

LYV stock opened at $186.48 on Wednesday. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $189.24. The firm has a market capitalization of $43.94 billion, a P/E ratio of -165.03 and a beta of 1.12. The company has a fifty day simple moving average of $180.63 and a two-hundred day simple moving average of $167.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Profile

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.