Bornite Capital Management LP Makes New $30.26 Million Investment in Live Nation Entertainment, Inc. $LYV

Bornite Capital Management LP bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $30,256,000. Live Nation Entertainment comprises 3.0% of Bornite Capital Management LP’s holdings, making the stock its 22nd largest holding. Bornite Capital Management LP owned 0.09% of Live Nation Entertainment as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYV. N.E.W. Advisory Services LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at about $42,000. GW&K Investment Management LLC grew its position in shares of Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after purchasing an additional 283 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $62,000. Brooklyn Investment Group lifted its position in Live Nation Entertainment by 95.3% during the first quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock worth $81,000 after buying an additional 301 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Live Nation Entertainment by 24.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 636 shares of the company’s stock worth $96,000 after buying an additional 125 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $140.59 on Friday. The company’s 50 day simple moving average is $158.25 and its 200-day simple moving average is $151.11. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The company has a market capitalization of $32.97 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.81). The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on LYV shares. Guggenheim cut their target price on Live Nation Entertainment from $182.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research report on Wednesday. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their target price for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday. Nineteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $173.35.

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.