Independent Franchise Partners LLP Has $817.06 Million Position in Live Nation Entertainment, Inc. $LYV

Independent Franchise Partners LLP increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,733,718 shares of the company’s stock after purchasing an additional 193,104 shares during the period. Live Nation Entertainment makes up 5.2% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 6th biggest holding. Independent Franchise Partners LLP owned 2.44% of Live Nation Entertainment worth $817,055,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares in the last quarter. Capital World Investors boosted its holdings in Live Nation Entertainment by 4.8% in the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after purchasing an additional 237,342 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its holdings in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYV. Guggenheim upped their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Sanford C. Bernstein upped their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Citizens Jmp assumed coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price target for the company. Susquehanna upped their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Finally, Roth Mkm restated a “buy” rating and set a $190.00 price target on shares of Live Nation Entertainment 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $188.50.

Live Nation Entertainment Stock Down 1.5%

LYV stock 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. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $176.00. The company has a 50-day moving average of $163.55 and a two-hundred day moving average of $153.83. The stock has a market capitalization 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 quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) earnings per share. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by corporate insiders.

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.