Bain Capital Public Equity Management II LLC Acquires Shares of 128,662 Live Nation Entertainment, Inc. $LYV

Bain Capital Public Equity Management II LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, HoldingsChannel.com reports. The fund acquired 128,662 shares of the company’s stock, valued at approximately $19,464,000. Live Nation Entertainment accounts for approximately 0.9% of Bain Capital Public Equity Management II LLC’s holdings, making the stock its 21st largest position.

A number of other large investors have also modified their holdings of the stock. Clearstead Trust LLC lifted its position in Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $62,000. Allworth Financial LP boosted its stake in shares of Live Nation Entertainment by 48.8% in the second quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after purchasing an additional 147 shares during the period. Brooklyn Investment Group grew its holdings in Live Nation Entertainment by 95.3% during the 1st quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock valued at $81,000 after purchasing an additional 301 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in Live Nation Entertainment by 60.1% in the 1st quarter. MAI Capital Management now owns 663 shares of the company’s stock worth $87,000 after buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the subject of several recent analyst reports. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Citigroup dropped their price objective on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Roth Capital decreased their price target on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Live Nation Entertainment in a report on Monday, December 1st. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.50.

Live Nation Entertainment Stock Performance

LYV stock opened at $137.98 on Tuesday. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of 99.99 and a beta of 1.22. 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 stock’s fifty day moving average is $144.53 and its two-hundred day moving average is $150.59.

Live Nation Entertainment (NYSE:LYV) last posted 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). Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter last year, the company posted $1.66 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.