Visualize Group LP Takes $14.93 Million Position in Live Nation Entertainment, Inc. $LYV

Visualize Group LP bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 97,922 shares of the company’s stock, valued at approximately $14,934,000. Live Nation Entertainment accounts for about 6.1% of Visualize Group LP’s investment portfolio, making the stock its 10th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after purchasing an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $177.29 on Monday. The stock has a market capitalization of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11. The firm’s 50 day moving average is $173.49 and its 200 day moving average is $161.18. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $188.00. 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 announced its quarterly earnings results 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). The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) earnings per share. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Wolfe Research upped their target price on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.95.

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.