Live Nation Entertainment, Inc. $LYV Shares Acquired by AXQ Capital LP

AXQ Capital LP increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 118.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,875 shares of the company’s stock after purchasing an additional 4,805 shares during the quarter. Live Nation Entertainment accounts for approximately 0.6% of AXQ Capital LP’s investment portfolio, making the stock its 18th largest holding. AXQ Capital LP’s holdings in Live Nation Entertainment were worth $1,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LYV. Clearstead Trust LLC boosted its holdings in shares of Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Live Nation Entertainment during the third quarter valued at $33,000. Heartwood Wealth Advisors LLC purchased a new stake in Live Nation Entertainment in the third quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth about $37,000. Finally, Root Financial Partners LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 2.7%

Shares of LYV opened at $158.30 on Tuesday. The stock has a 50 day moving average price of $146.45 and a 200 day moving average price of $150.33. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $37.17 billion, a price-to-earnings ratio of -659.58, a PEG ratio of 11.85 and a beta of 1.18. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

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

Analyst Ratings Changes

A number of research analysts have issued reports on LYV shares. The Goldman Sachs Group reissued a “buy” rating and issued a $175.00 price target on shares of Live Nation Entertainment in a report on Friday. Weiss Ratings cut shares of Live Nation Entertainment from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday. Roth Mkm restated a “buy” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday. Wolfe Research upped their price objective on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Rothschild & Co Redburn dropped their target price on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Nineteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.75.

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.