Triple Frond Partners LLC Invests $36.46 Million in Live Nation Entertainment, Inc. $LYV

Triple Frond Partners 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 firm acquired 255,858 shares of the company’s stock, valued at approximately $36,460,000. Live Nation Entertainment accounts for approximately 3.8% of Triple Frond Partners LLC’s holdings, making the stock its 11th biggest holding. Triple Frond Partners LLC owned about 0.11% of Live Nation Entertainment as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $26,000. Ameriflex Group Inc. raised its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the period. Elyxium Wealth LLC bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $30,000. Finally, Blue Trust Inc. raised its stake in Live Nation Entertainment by 62.6% during the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock valued at $40,000 after purchasing an additional 107 shares during the period. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LYV. Bank of America lifted their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. UBS Group lifted their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $172.35 on Friday. The stock has a market capitalization of $40.60 billion, a PE ratio of -97.37 and a beta of 1.12. The business has a 50 day simple moving average of $162.57 and a two-hundred day simple moving average of $152.73. 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 1-year low of $125.34 and a 1-year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its quarterly 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 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 business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS. On average, research analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

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

About Live Nation Entertainment

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.