Delta Global Management LP Takes Position in Live Nation Entertainment, Inc. $LYV

Delta Global Management LP purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 14,808 shares of the company’s stock, valued at approximately $2,258,000.

A number of other large investors have also bought and sold shares of LYV. Empowered Funds LLC grew 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 purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 109 shares during the last quarter. Cerity Partners LLC boosted its position in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after buying an additional 1,550 shares during the period. Daiwa Securities Group Inc. grew its holdings in Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after acquiring an additional 1,711 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment 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 transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $177.29 on Friday. The business’s fifty day moving average is $173.49 and its 200 day moving average is $161.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market cap of $41.76 billion, a price-to-earnings ratio of -100.16 and a beta of 1.11. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $188.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for 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%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) EPS. Research analysts expect that Live Nation Entertainment, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LYV shares. Susquehanna downgraded shares of Live Nation Entertainment from a “positive” rating to a “neutral” rating and upped their price objective for the company from $181.00 to $186.00 in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Rothschild & Co Redburn increased their price objective on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.95.

Live Nation Entertainment 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.