Boothbay Fund Management LLC Boosts Stock Position in Live Nation Entertainment, Inc. $LYV

Boothbay Fund Management LLC raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 22.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,287 shares of the company’s stock after acquiring an additional 19,941 shares during the period. Boothbay Fund Management LLC’s holdings in Live Nation Entertainment were worth $15,288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Leonteq Securities AG purchased a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. raised its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $30,000. Finally, DV Equities LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $31,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 1.5%

Shares of Live Nation Entertainment stock opened at $171.41 on Thursday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $176.00. The firm has a market cap of $40.37 billion, a PE ratio of -96.84 and a beta of 1.12. The business’s fifty day moving average is $163.55 and its two-hundred day moving average is $153.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for 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 company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LYV. Wolfe Research boosted their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th. Citizens Jmp began coverage on Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 target price on the stock. Finally, Guggenheim boosted their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $188.50.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Company 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.