SummitTX Capital L.P. Takes $5.82 Million Position in Live Nation Entertainment, Inc. $LYV

SummitTX Capital L.P. acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 38,148 shares of the company’s stock, valued at approximately $5,818,000.

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

Live Nation Entertainment Stock Up 1.2%

Shares of LYV stock opened at $179.28 on Tuesday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $188.00. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The business’s fifty day moving average is $173.74 and its 200-day moving average is $161.42. The stock has a market cap of $42.23 billion, a PE ratio of -101.29 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the company earned ($0.32) EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the topic of several analyst reports. Morgan Stanley increased their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Wells Fargo & Company boosted their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Twenty equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.95.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by corporate insiders.

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.