Live Nation Entertainment, Inc. $LYV Shares Bought by Mane Global Capital Management LP

Mane Global Capital Management LP lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 50.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 538,104 shares of the company’s stock after acquiring an additional 180,584 shares during the period. Live Nation Entertainment makes up about 3.4% of Mane Global Capital Management LP’s investment portfolio, making the stock its 7th largest position. Mane Global Capital Management LP’s holdings in Live Nation Entertainment were worth $81,404,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LYV. Fifth Third Wealth Advisors LLC grew its position in shares of Live Nation Entertainment by 2.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock valued at $428,000 after acquiring an additional 69 shares during the period. Central Pacific Bank Trust Division grew its holdings in Live Nation Entertainment by 1.8% during the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after purchasing an additional 97 shares during the period. Callan Family Office LLC increased its position in Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after buying an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Live Nation Entertainment by 15.8% in the second 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 period. Finally, Horizon Investments LLC lifted its position in shares of Live Nation Entertainment by 5.1% in the first quarter. Horizon Investments LLC now owns 2,251 shares of the company’s stock valued at $294,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $137.94 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50-day simple moving average is $143.63 and its 200 day simple moving average is $150.46. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 99.96 and a beta of 1.22.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on LYV. Weiss Ratings reissued a “hold (c+)” rating on shares of Live Nation Entertainment in a report on Monday. Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley cut their target price on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They set a “buy” rating and a $195.00 target price for the company. Finally, Susquehanna increased their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.50.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.