Pinnbrook Capital Management LP Has $7.97 Million Stake in Live Nation Entertainment, Inc. $LYV

Pinnbrook Capital Management LP lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 78.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,753 shares of the company’s stock after acquiring an additional 21,402 shares during the period. Live Nation Entertainment makes up approximately 0.9% of Pinnbrook Capital Management LP’s portfolio, making the stock its 28th biggest position. Pinnbrook Capital Management LP’s holdings in Live Nation Entertainment were worth $7,966,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LYV. Principal Financial Group Inc. lifted its stake in Live Nation Entertainment by 22.1% in the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the period. Norges Bank acquired a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $198,336,000. Vanguard Group Inc. boosted its stake in Live Nation Entertainment by 2.1% during the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after acquiring an additional 423,541 shares in the last quarter. Holocene Advisors LP bought a new stake in Live Nation Entertainment in the second quarter valued at $54,126,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of Live Nation Entertainment by 110.2% during the 2nd quarter. Westfield Capital Management Co. LP now owns 677,730 shares of the company’s stock worth $102,527,000 after purchasing an additional 355,279 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the topic of several recent research reports. Moffett Nathanson cut their price target on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Morgan Stanley reissued an “overweight” rating and issued a $185.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Rothschild & Co Redburn raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $166.00 to $193.00 in a research report on Friday, February 27th. Finally, UBS Group raised their price target on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.40.

Live Nation Entertainment Trading Down 3.9%

NYSE:LYV opened at $154.14 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $113.20 and a 12 month high of $175.25. The business’s 50-day moving average is $151.35 and its two-hundred day moving average is $150.42. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $36.19 billion, a PE ratio of -642.25 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.01% of the company’s stock.

Live Nation Entertainment Company 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.