Findlay Park Partners LLP Takes $195.78 Million Position in Live Nation Entertainment, Inc. $LYV

Findlay Park Partners LLP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,069,200 shares of the company’s stock, valued at approximately $195,781,000. Live Nation Entertainment accounts for approximately 2.6% of Findlay Park Partners LLP’s investment portfolio, making the stock its 13th largest holding. Findlay Park Partners LLP owned 0.45% of Live Nation Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Leonteq Securities AG bought a new position in Live Nation Entertainment in the 4th quarter worth about $25,000. Burkett Financial Services LLC bought a new stake in Live Nation Entertainment during the second quarter valued at approximately $26,000. Kilter Group LLC purchased a new position in Live Nation Entertainment in the second quarter worth $27,000. Meeder Asset Management Inc. bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at about $27,000. Finally, Elyxium Wealth LLC bought a new position in Live Nation Entertainment during the fourth quarter valued at approximately $30,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 0.1%

NYSE LYV opened at $182.28 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock’s fifty day moving average price is $180.20 and its 200-day moving average price is $166.31. The stock has a market cap of $42.95 billion, a P/E ratio of -161.31 and a beta of 1.12.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on LYV. Sanford C. Bernstein boosted their price target on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Roth Capital set a $208.00 price target on Live Nation Entertainment in a research report on Friday, July 31st. BTIG Research reiterated a “buy” rating and issued a $215.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a report on Friday, July 31st. Finally, Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Twenty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $197.19.

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.