Live Nation Entertainment (LYV) : Incline Global Management has sold out all of its stake in Live Nation Entertainment during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 1,118,289 shares of Live Nation Entertainment which is valued at $29,578,744.
Other Hedge Funds, Including , Capital Guardian Trust Co boosted its stake in LYV in the latest quarter, The investment management firm added 1,963 additional shares and now holds a total of 2,078 shares of Live Nation Entertainment which is valued at $54,963.Blackrock Group Ltd reduced its stake in LYV by selling 18,494 shares or 11.09% in the most recent quarter. The Hedge Fund company now holds 148,208 shares of LYV which is valued at $3,920,102.California State Teachers Retirement System reduced its stake in LYV by selling 28,530 shares or 9.22% in the most recent quarter. The Hedge Fund company now holds 280,835 shares of LYV which is valued at $7,481,444. Live Nation Entertainment makes up approx 0.02% of California State Teachers Retirement System’s portfolio.Kalmar Investments Inc De reduced its stake in LYV by selling 70,419 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 1,499,624 shares of LYV which is valued at $41,119,690. Live Nation Entertainment makes up approx 1.75% of Kalmar Investments Inc De’s portfolio.
Live Nation Entertainment opened for trading at $26.71 and hit $26.885 on the upside on Thursday, eventually ending the session at $26.77, with a gain of 0.19% or 0.05 points. The heightened volatility saw the trading volume jump to 6,78,393 shares. Company has a market cap of $5,437 M.
On the company’s financial health, Live Nation Entertainment reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.05. The company had revenue of $2179.30 million for the quarter, compared to analysts expectations of $1878.33 million. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.
Many Wall Street Analysts have commented on Live Nation Entertainment. Live Nation Entertainment was Initiated by JP Morgan to “Overweight” on Aug 18, 2016.
Live Nation Entertainment Inc. (Live Nation) is a live entertainment company. The Company core businesses consist of the promotion of live events including ticketing sponsorship and advertising and artist management. The Company operates through four segments: segments are Concerts Ticketing Artist Nation and Sponsorship & Advertising. It connects around 519 million fans across its platforms in 33 countries. The Company is a producer of live music concerts around the world that connects nearly 59 million fans to almost 23000 events for over 2700 artists. The Concerts segment is involved in the global promotion of live music events. The Ticketing segment is primarily an agency business that sells tickets for events. The Artist Nation segment is a provider of management services to music artists. The Sponsorship & Advertising segment through a sales force creates and maintains relationships with sponsors to allow businesses to reach customers.