Live Nation Entertainment, Inc. $LYV Stake Boosted by Dorsey Asset Management LLC

Dorsey Asset Management LLC increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,609 shares of the company’s stock after acquiring an additional 4,636 shares during the period. Live Nation Entertainment comprises approximately 7.4% of Dorsey Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Dorsey Asset Management LLC owned about 0.26% of Live Nation Entertainment worth $92,666,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment in the fourth quarter worth approximately $30,000. DV Equities LLC bought a new position in Live Nation Entertainment during the fourth quarter valued at approximately $31,000. Finally, Blue Trust Inc. lifted its stake in Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock valued at $40,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Citizens Jmp lifted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research note on Wednesday. BTIG Research assumed coverage on shares of Live Nation Entertainment in a report on Thursday. They issued a “buy” rating and a $215.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.95.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $177.29 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a fifty day simple moving average of $173.49 and a 200-day simple moving average of $161.07. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of -100.16 and a beta of 1.11. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $188.00.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($0.32) earnings per share. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current year.

Insider Activity

In related news, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company’s stock.

About Live Nation Entertainment

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.