Liberty Mutual Group Asset Management Inc. Has $1.11 Million Stake in Live Nation (LYV)

Liberty Mutual Group Asset Management Inc. lessened its position in Live Nation (NYSE:LYV) by 22.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,389 shares of the company’s stock after selling 7,625 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Live Nation were worth $1,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. William Blair Investment Management LLC lifted its position in Live Nation by 35.9% during the fourth quarter. William Blair Investment Management LLC now owns 4,138,611 shares of the company’s stock valued at $176,181,000 after purchasing an additional 1,093,022 shares during the period. Renaissance Technologies LLC lifted its position in Live Nation by 25.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,767,366 shares of the company’s stock valued at $160,377,000 after purchasing an additional 758,666 shares during the period. Wells Fargo & Company MN lifted its position in Live Nation by 29.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,786,851 shares of the company’s stock valued at $118,636,000 after purchasing an additional 627,695 shares during the period. Clearbridge Investments LLC lifted its position in Live Nation by 0.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,754,431 shares of the company’s stock valued at $117,256,000 after purchasing an additional 13,580 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Live Nation by 13.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,466,200 shares of the company’s stock valued at $62,416,000 after purchasing an additional 177,437 shares during the period. Hedge funds and other institutional investors own 68.13% of the company’s stock.

Shares of LYV stock opened at $44.06 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $9.28 billion, a price-to-earnings ratio of -91.79 and a beta of 0.98. Live Nation has a 12 month low of $33.45 and a 12 month high of $49.11.

Live Nation (NYSE:LYV) last released its earnings results on Thursday, May 3rd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Live Nation had a negative return on equity of 1.76% and a negative net margin of 0.25%. Live Nation’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) earnings per share. research analysts predict that Live Nation will post 0.14 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Live Nation from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $32.80 to $49.11 in a research report on Friday, May 4th. Macquarie restated a “buy” rating and set a $55.00 price objective on shares of Live Nation in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of Live Nation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine upgraded shares of Live Nation from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Guggenheim restated a “buy” rating and set a $53.00 price objective on shares of Live Nation in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation currently has an average rating of “Buy” and an average target price of $49.14.

About Live Nation

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation (NYSE:LYV)

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