Cantillon Capital Management LLC Has $375.95 Million Holdings in Live Nation Entertainment, Inc. $LYV

Cantillon Capital Management LLC cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,465,059 shares of the company’s stock after selling 332,146 shares during the period. Live Nation Entertainment makes up 2.5% of Cantillon Capital Management LLC’s holdings, making the stock its 17th largest position. Cantillon Capital Management LLC’s holdings in Live Nation Entertainment were worth $375,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SEB Asset Management AB bought a new position in Live Nation Entertainment in the first quarter valued at $7,221,000. Swiss National Bank increased its holdings in Live Nation Entertainment by 7.4% during the first quarter. Swiss National Bank now owns 477,000 shares of the company’s stock worth $72,747,000 after buying an additional 32,800 shares during the last quarter. Jennison Associates LLC acquired a new position in Live Nation Entertainment during the first quarter worth $12,062,000. Gryphon Financial Partners LLC bought a new stake in Live Nation Entertainment during the first quarter worth $207,000. Finally, Bessemer Group Inc. lifted its stake in Live Nation Entertainment by 25.8% in the first quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock valued at $353,690,000 after acquiring an additional 475,373 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated 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 transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was 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. This trade represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.

Analyst Ratings Changes

LYV has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft increased their target price 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. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Guggenheim boosted their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.90.

Live Nation Entertainment Stock Up 0.1%

Shares of NYSE:LYV opened at $180.31 on Monday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $188.00. The company has a market capitalization of $42.47 billion, a PE ratio of -101.87 and a beta of 1.11. The company has a fifty day moving average of $172.41 and a 200-day moving average of $159.98.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) 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 period in the prior year, the company earned ($0.32) EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 0.96 EPS for the current fiscal 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.