Shapiro Capital Management buys $179.2 Million stake in Live Nation Entertainment (LYV)

Live Nation Entertainment (LYV) : Shapiro Capital Management scooped up 1,743,384 additional shares in Live Nation Entertainment during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 7,883,096 shares of Live Nation Entertainment which is valued at $179.2 Million.Live Nation Entertainment makes up approximately 5.21% of Shapiro Capital Management’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in LYV by selling 287 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 88,720 shares of LYV which is valued at $2 Million.Artisan Partners Limited Partnership boosted its stake in LYV in the latest quarter, The investment management firm added 42,231 additional shares and now holds a total of 194,057 shares of Live Nation Entertainment which is valued at $4.4 Million. Live Nation Entertainment makes up approx 0.01% of Artisan Partners Limited Partnership’s portfolio.Ubs Asset Management Americas Inc reduced its stake in LYV by selling 25,907 shares or 19.57% in the most recent quarter. The Hedge Fund company now holds 106,483 shares of LYV which is valued at $2.4 Million.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys reduced its stake in LYV by selling 16,183 shares or 38.31% in the most recent quarter. The Hedge Fund company now holds 26,057 shares of LYV which is valued at $592,276. Live Nation Entertainment makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Capital Fund Management S.a. added LYV to its portfolio by purchasing 64,748 company shares during the most recent quarter which is valued at $1.5 Million. Live Nation Entertainment makes up approx 0.03% of Capital Fund Management S.a.’s portfolio.

Live Nation Entertainment closed down -0.01 points or -0.04% at $23.43 with 9,39,871 shares getting traded on Wednesday. Post opening the session at $23.47, the shares hit an intraday low of $23.32 and an intraday high of $23.53 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Live Nation Entertainment reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.28. The company had revenue of $1207.70 million for the quarter, compared to analysts expectations of $1183.59 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.31 EPS.

Many Wall Street Analysts have commented on Live Nation Entertainment. Live Nation Entertainment was Upgraded by Northcoast to ” Buy” on May 2, 2016. Live Nation Entertainment was Initiated by BTIG Research to “Neutral” on Mar 29, 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.

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