938,554 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by PointState Capital LP

PointState Capital LP acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the third quarter, HoldingsChannel.com reports. The fund acquired 938,554 shares of the company’s stock, valued at approximately $102,762,000. Live Nation Entertainment makes up about 1.9% of PointState Capital LP’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYV. Select Equity Group L.P. boosted its holdings in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. lifted its holdings in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after purchasing an additional 855,197 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Live Nation Entertainment by 85.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after purchasing an additional 476,981 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Live Nation Entertainment by 55.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after purchasing an additional 387,008 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,799 shares of company stock valued at $16,449,718 over the last three months. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Stock Down 0.3 %

NYSE:LYV opened at $137.38 on Wednesday. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $141.18. The company has a 50-day moving average of $121.64 and a 200 day moving average of $104.36. The firm has a market cap of $31.92 billion, a PE ratio of 146.15, a price-to-earnings-growth ratio of 3.73 and a beta of 1.37. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Guggenheim boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Benchmark boosted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Oppenheimer boosted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.53.

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.