Pinnbrook Capital Management LP Makes New Investment in Live Nation Entertainment, Inc. $LYV

Pinnbrook Capital Management LP acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 27,351 shares of the company’s stock, valued at approximately $4,138,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYV. Clearstead Trust LLC grew its stake in shares of Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 136 shares during the last quarter. GW&K Investment Management LLC grew its position in Live Nation Entertainment by 690.2% during the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock worth $42,000 after acquiring an additional 283 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $42,000. TD Private Client Wealth LLC bought a new stake in Live Nation Entertainment in the second quarter valued at approximately $62,000. Finally, Allworth Financial LP boosted its stake in shares of Live Nation Entertainment by 48.8% during the second quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after purchasing an additional 147 shares during the period. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LYV. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft cut their target price on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Susquehanna increased their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. decreased their target price on Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.84.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $135.78 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $31.87 billion, a P/E ratio of 58.78, a PEG ratio of 12.85 and a beta of 1.37. The stock’s 50 day moving average is $155.83 and its 200 day moving average is $151.23.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.87 billion. During the same period last year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.