Edgestream Partners L.P. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 1,020.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,171 shares of the company’s stock after buying an additional 46,602 shares during the period. Edgestream Partners L.P.’s holdings in Live Nation Entertainment were worth $7,804,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in LYV. Empowered Funds LLC increased its holdings in shares of 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 acquiring an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 grew its position 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 valued at $4,160,000 after purchasing an additional 1,550 shares during the period. Daiwa Securities Group Inc. increased its stake 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 holdings in Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.
Insider Transactions at Live Nation Entertainment
In related news, 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 approximately $33,622,555.84. This represents a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on 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 transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Stock Report on LYV
Live Nation Entertainment Stock Up 2.0%
NYSE:LYV opened at $184.48 on Thursday. The firm has a market capitalization of $43.45 billion, a price-to-earnings ratio of -104.22 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $188.00. The stock’s 50 day moving average price is $174.49 and its two-hundred day moving average price is $161.94.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its 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). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the business posted ($0.32) earnings per share. Live Nation Entertainment’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current fiscal year.
About Live Nation Entertainment
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.
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