Chartwell Investment Partners LLC makes a new investment in Live Nation Entertainment, Inc. (NYSE:LYV)


Chartwell Investment Partners LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating ) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 14,184 shares of the company’s stock, valued at approximately $1,669,000.

A number of other large investors have also modified their holdings of LYV. Select Equity Group LP boosted its position in Live Nation Entertainment by 132.6% in the fourth quarter. Select Equity Group LP now owns 6,224,219 shares of the company’s stock valued at $744,977,000 after buying an additional 3,547,743 shares during the period. Victory Capital Management Inc. increased its position in Live Nation Entertainment by 208.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,643,888 shares of the company’s stock valued at $316,447,000 after purchasing an additional 1,785,500 shares during the period. Candlestick Capital Management LP bought a new position in Live Nation Entertainment in the fourth quarter worth about $74,431,000. Allspring Global Investments Holdings LLC bought a new position in Live Nation Entertainment in the fourth quarter worth about $60,010,000. Finally, Scout Investments Inc. increased its position in Live Nation Entertainment by 145.5% during the first quarter. Scout Investments Inc. now owns 836,671 shares of the company’s stock valued at $98,426,000 after buying an additional 495,802 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s shares.

Shares of LYV stock opened at $84.36 on Monday. The company has a market cap of $19.24 billion, a PE ratio of -40.95 and a beta of 1.31. Live Nation Entertainment, Inc. has a one year low of $74.23 and a one year high of $127.75. The company’s 50-day moving average is $89.10, and its 200-day moving average is $104.94.

Live Nation Entertainment (NYSE:LYV – Get Rating ) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.59. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.88 billion. The company’s revenue was up 520.4% over the same quarter last year. During the same period last year, the business reported ($1.44) earnings per share. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 0.49 EPS for the current fiscal year.

In other Live Nation Entertainment news, CEO Michael Rapinoe sold 78,000 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $93.08, for a total transaction of $7,260,240.00. Following the transaction, the chief executive officer now directly owns 3,336,520 shares of the company’s stock, valued at $310,563,281.60. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this hyperlink. Insiders have sold 546,000 shares of company stock worth $57,326,880 over the last three months. Insiders own 4.01% of the company’s stock.

A number of brokerages have recently issued reports on LYV. Macquarie raised shares of Live Nation Entertainment from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $117.00 to $105.00 in a report on Tuesday, July 5th. Wolfe Research decreased their target price on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd. Rosenblatt Securities began coverage on shares of Live Nation Entertainment in a report on Monday, April 25th. They issued a “buy” rating and a $138.00 target price on the stock. TheStreet downgraded shares of Live Nation Entertainment from a “c” rating to a “d+” rating in a report on Thursday, March 17th. Finally, Benchmark initiated coverage on shares of Live Nation Entertainment in a report on Monday, April 25th. They issued a “buy” rating and a $135.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $119.90, according to MarketBeat .

Live Nation Entertainment company profile (Get Rating)

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through the segments Concerts, Ticket Sales and Sponsorship and Advertising. The Concerts segment promotes live music events in owned or managed venues, as well as third-party leased venues; operates and manages music halls; produces music festivals; creates related content; and offers management and other services to artists.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)



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