Border to Coast Pensions Partnership Ltd Buys New Position in Live Nation Entertainment, Inc. $LYV

Border to Coast Pensions Partnership Ltd bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 172,269 shares of the company’s stock, valued at approximately $26,353,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. increased its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the period. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment during the 4th quarter worth approximately $30,000. Finally, DV Equities LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $31,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 2.5%

Shares of NYSE:LYV opened at $179.44 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $180.92. The company’s 50 day moving average is $165.03 and its two-hundred day moving average is $155.56. The company has a market cap of $42.27 billion, a PE ratio of -101.38 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm posted ($0.32) earnings per share. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal 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 stock was 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 directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Rothschild & Co Redburn raised their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Citizens Jmp initiated coverage on Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price objective on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Wolfe Research boosted their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group upped their price target on Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Twenty 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 a consensus rating of “Moderate Buy” and an average price target of $188.50.

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.