Troluce Capital Advisors LLC Acquires Shares of 330,000 Live Nation Entertainment, Inc. $LYV

Troluce Capital Advisors LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 330,000 shares of the company’s stock, valued at approximately $50,328,000. Live Nation Entertainment comprises approximately 3.1% of Troluce Capital Advisors LLC’s holdings, making the stock its 5th largest position.

A number of other hedge funds have also recently made changes to their positions in the business. Leonteq Securities AG bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new position in Live Nation Entertainment in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment during the 4th quarter valued at about $30,000. DV Equities LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. raised its stake in shares of Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after purchasing an additional 107 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred 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 owned 188,751 shares in the company, valued at $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BTIG Research started coverage on Live Nation Entertainment in a research report on Thursday. They set a “buy” rating and a $215.00 target price on the stock. Wolfe Research increased their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $195.95.

Live Nation Entertainment Price Performance

LYV opened at $177.29 on Monday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $188.00. The firm has a 50-day moving average of $173.49 and a 200 day moving average of $161.18. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share 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 for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company posted ($0.32) earnings per share. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts expect that Live Nation Entertainment, Inc. will post 0.94 EPS for the current year.

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.