Live Nation Entertainment, Inc. $LYV is Jericho Capital Asset Management L.P.’s 4th Largest Position

Jericho Capital Asset Management L.P. boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 37.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,996,512 shares of the company’s stock after acquiring an additional 1,099,350 shares during the period. Live Nation Entertainment accounts for 6.5% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 4th biggest position. Jericho Capital Asset Management L.P.’s holdings in Live Nation Entertainment were worth $569,503,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have recently commented on LYV. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Citizens Jmp began coverage on Live Nation Entertainment in a report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price objective for the company. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Finally, Sanford C. Bernstein increased their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.50.

Live Nation Entertainment Price Performance

NYSE LYV opened at $171.41 on Thursday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s fifty day moving average price is $163.55 and its 200 day moving average price is $153.83. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $176.00. The company has a market cap of $40.37 billion, a price-to-earnings ratio of -96.84 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company earned ($0.32) earnings per share. Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by corporate insiders.

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.