Bain Capital Public Equity LP Has $800,000 Stock Holdings in Live Nation Entertainment, Inc. $LYV

Bain Capital Public Equity LP reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 89.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,615 shares of the company’s stock after selling 45,416 shares during the quarter. Live Nation Entertainment comprises 0.5% of Bain Capital Public Equity LP’s portfolio, making the stock its 6th largest holding. Bain Capital Public Equity LP’s holdings in Live Nation Entertainment were worth $800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Live Nation Entertainment by 70.0% during the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after purchasing an additional 759,363 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares in the last quarter. L2 Asset Management LLC raised its holdings in shares of Live Nation Entertainment by 70.4% in the 3rd quarter. L2 Asset Management LLC now owns 35,019 shares of the company’s stock worth $5,722,000 after purchasing an additional 14,470 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Live Nation Entertainment by 14.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 607,164 shares of the company’s stock worth $88,227,000 after purchasing an additional 78,171 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment 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 transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment 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 transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research reports. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a report on Monday, March 9th. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Roth Mkm reiterated a “buy” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $174.14 on Wednesday. The firm’s 50 day simple moving average is $163.32 and its 200-day simple moving average is $153.55. The company has a market cap of $41.02 billion, a P/E ratio of -98.39 and a beta of 1.12. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $176.00.

Live Nation Entertainment (NYSE:LYV) last released its earnings results 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). The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned ($0.32) earnings per share. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.

Live Nation Entertainment 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.