Honeycomb Asset Management LP Takes $18.72 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Honeycomb Asset Management LP purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 200,000 shares of the company’s stock, valued at approximately $18,720,000. Live Nation Entertainment makes up 4.5% of Honeycomb Asset Management LP’s investment portfolio, making the stock its 5th biggest holding. Honeycomb Asset Management LP owned approximately 0.09% of Live Nation Entertainment at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. DekaBank Deutsche Girozentrale grew its position in shares of Live Nation Entertainment by 0.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock worth $2,324,000 after buying an additional 117 shares during the last quarter. Hohimer Wealth Management LLC grew its position in shares of Live Nation Entertainment by 1.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock worth $956,000 after buying an additional 123 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of Live Nation Entertainment by 15.8% in the 4th quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock worth $92,000 after buying an additional 134 shares during the last quarter. Spire Wealth Management grew its position in shares of Live Nation Entertainment by 5.4% in the 4th quarter. Spire Wealth Management now owns 2,833 shares of the company’s stock worth $258,000 after buying an additional 145 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC grew its position in Live Nation Entertainment by 1.1% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 13,179 shares of the company’s stock worth $1,094,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Oppenheimer decreased their target price on shares of Live Nation Entertainment from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. TD Cowen reiterated a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Northcoast Research cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Finally, Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment Price Performance

NYSE:LYV traded up $0.04 during trading hours on Tuesday, reaching $89.79. 2,097,259 shares of the company were exchanged, compared to its average volume of 2,264,768. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock’s 50-day moving average is $95.07 and its 200-day moving average is $93.87. The firm has a market cap of $20.63 billion, a PE ratio of 85.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.35. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.38 earnings per share for the current fiscal year.

Live Nation Entertainment Company Profile

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