Elevation Point Wealth Partners LLC Makes New Investment in Live Nation Entertainment, Inc. $LYV

Elevation Point Wealth Partners LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the first quarter, according to its most recent filing with the SEC. The firm acquired 8,755 shares of the company’s stock, valued at approximately $1,335,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYV. Keybank National Association OH raised its stake in Live Nation Entertainment by 21.2% in the first quarter. Keybank National Association OH now owns 11,335 shares of the company’s stock worth $1,729,000 after buying an additional 1,979 shares in the last quarter. CHICAGO TRUST Co NA grew its holdings in shares of Live Nation Entertainment by 3.3% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,922 shares of the company’s stock worth $598,000 after acquiring an additional 125 shares during the period. Fulton Bank N.A. raised its position in shares of Live Nation Entertainment by 32.9% in the 1st quarter. Fulton Bank N.A. now owns 6,506 shares of the company’s stock worth $992,000 after acquiring an additional 1,612 shares in the last quarter. USS Investment Management Ltd lifted its stake in shares of Live Nation Entertainment by 15.7% in the 1st quarter. USS Investment Management Ltd now owns 28,256 shares of the company’s stock valued at $4,311,000 after purchasing an additional 3,840 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in shares of Live Nation Entertainment by 3.3% during the first quarter. IFM Investors Pty Ltd now owns 30,879 shares of the company’s stock valued at $4,709,000 after purchasing an additional 986 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 0.3%

NYSE:LYV opened at $186.07 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. The firm has a market cap of $43.83 billion, a P/E ratio of -105.13 and a beta of 1.11. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $187.63. The firm has a 50-day simple moving average of $167.83 and a two-hundred day simple moving average of $157.22.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. Analysts predict that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Hopmans sold 93,078 shares of the stock in a transaction 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 sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $10,474,570.24. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 2.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LYV. Guggenheim increased their price objective on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Citizens Jmp started coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price target for the company. Susquehanna boosted their price objective on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Live Nation Entertainment has a consensus 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.