Pinnbrook Capital Management LP Invests $1.54 Million in Live Nation Entertainment, Inc. $LYV

Pinnbrook Capital Management LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, Holdings Channel reports. The firm acquired 8,400 shares of the company’s stock, valued at approximately $1,538,000.

Several other large investors also recently added to or reduced their stakes in the stock. Leonteq Securities AG bought a new position in Live Nation Entertainment in the 4th quarter worth about $25,000. Burkett Financial Services LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $26,000. Kilter Group LLC bought a new position in Live Nation Entertainment in the second quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment in the second quarter worth approximately $27,000. Finally, Elyxium Wealth LLC purchased a new position in Live Nation Entertainment during the 4th quarter worth $30,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LYV shares. Sanford C. Bernstein upped their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. UBS Group upped their price objective on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. BTIG Research reissued a “buy” rating and set a $215.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Finally, Roth Capital set a $208.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Trading Up 0.1%

Shares of NYSE:LYV opened at $182.28 on Friday. The company has a market capitalization of $42.95 billion, a PE ratio of -161.31 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The business’s fifty day simple moving average is $180.20 and its 200-day simple moving average is $166.31.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Live Nation Entertainment Company 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.