Sunriver Management LLC Purchases 20,661 Shares of Live Nation Entertainment, Inc. $LYV

Sunriver Management LLC lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 13.8% in the first quarter, HoldingsChannel.com reports. The firm owned 170,661 shares of the company’s stock after acquiring an additional 20,661 shares during the period. Live Nation Entertainment comprises 4.4% of Sunriver Management LLC’s investment portfolio, making the stock its 11th largest holding. Sunriver Management LLC’s holdings in Live Nation Entertainment were worth $26,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Axxcess Wealth Management LLC boosted its stake in Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after buying an additional 75 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after buying an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. lifted its holdings in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after acquiring an additional 80 shares during the period. Sumitomo Life Insurance Co. boosted its position in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares in the last quarter. Finally, Root Financial Partners LLC boosted its position in shares of Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock valued at $44,000 after acquiring an additional 85 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LYV has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Citizens Jmp raised their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Guggenheim boosted their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Rothschild & Co Redburn upped their price target on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.95.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $177.29 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a market cap of $41.76 billion, a PE ratio of -100.16 and a beta of 1.11. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $188.00. The company’s 50-day moving average price is $173.49 and its two-hundred day moving average price is $161.07.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business posted ($0.32) EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 0.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.89% of the stock is 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.