Linonia Partnership LP Takes $123.25 Million Position in Live Nation Entertainment, Inc. $LYV

Linonia Partnership LP bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 673,090 shares of the company’s stock, valued at approximately $123,250,000. Live Nation Entertainment makes up 2.2% of Linonia Partnership LP’s portfolio, making the stock its 9th biggest holding. Linonia Partnership LP owned approximately 0.29% of Live Nation Entertainment at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Kintayl Capital LP acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at about $1,626,000. Hsbc Holdings PLC acquired a new position in shares of Live Nation Entertainment during the second quarter worth approximately $48,496,000. EFG International AG bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $9,158,000. Ancora Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $563,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $133,161,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 1.0%

NYSE:LYV opened at $186.48 on Wednesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day simple moving average is $180.63 and its 200-day simple moving average is $167.08. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The stock has a market capitalization of $43.94 billion, a PE ratio of -165.03 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a research report on Tuesday, July 28th. Roth Capital set a $208.00 price objective on Live Nation Entertainment in a report on Friday, July 31st. Citizens Jmp upped their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Insider Buying and Selling

In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

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.