Armistice Capital LLC Makes New $17.23 Million Investment in Live Nation Entertainment, Inc. $LYV

Armistice Capital LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 120,938 shares of the company’s stock, valued at approximately $17,234,000. Armistice Capital LLC owned 0.05% of Live Nation Entertainment as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LYV. Empowered Funds LLC raised its position in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares during the period. EverSource Wealth Advisors LLC raised its position in Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after acquiring an additional 109 shares during the period. Cerity Partners LLC raised its position in Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after acquiring an additional 1,550 shares during the period. Daiwa Securities Group Inc. raised its position in Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC raised its position in Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after acquiring an additional 1,711 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $171.41 on Thursday. The company has a 50 day moving average of $163.55 and a 200 day moving average of $153.83. The stock has a market cap of $40.37 billion, a P/E ratio of -96.84 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $176.00. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) 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 for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the firm posted ($0.32) EPS. Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LYV shares. Bank of America boosted their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $188.50.

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.