Pinnbrook Capital Management LP Has $7.97 Million Holdings in Live Nation Entertainment, Inc. $LYV

Pinnbrook Capital Management LP grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 78.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,753 shares of the company’s stock after acquiring an additional 21,402 shares during the period. Live Nation Entertainment accounts for approximately 0.9% of Pinnbrook Capital Management LP’s holdings, making the stock its 28th largest position. Pinnbrook Capital Management LP’s holdings in Live Nation Entertainment were worth $7,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Live Nation Entertainment by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after buying an additional 372,715 shares during the period. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after buying an additional 1,763,511 shares during the period. Capital World Investors grew its stake in shares of Live Nation Entertainment by 4.8% in the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after acquiring an additional 237,342 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after purchasing an additional 156,471 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Live Nation Entertainment by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock valued at $501,911,000 after buying an additional 212,592 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on LYV shares. UBS Group upped their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, February 20th. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim reiterated a “buy” rating and set a $180.00 price objective on shares of Live Nation Entertainment in a research note on Monday. Sanford C. Bernstein increased their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.40.

Live Nation Entertainment Stock Down 3.9%

Shares of NYSE LYV opened at $154.14 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $113.20 and a 1 year high of $175.25. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $36.19 billion, a PE ratio of -642.25 and a beta of 1.11. The company has a 50 day simple moving average of $151.35 and a 200 day simple moving average of $150.42.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the business posted $0.58 EPS. Live Nation Entertainment’s revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.