Everpoint Asset Management buys $29,118,064 stake in Live Nation Entertainment (LYV)

Live Nation Entertainment (LYV) : Everpoint Asset Management scooped up 880,516 additional shares in Live Nation Entertainment during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,100,872 shares of Live Nation Entertainment which is valued at $29,118,064.Live Nation Entertainment makes up approximately 0.76% of Everpoint Asset Management’s portfolio.

Other Hedge Funds, Including , Gotham Asset Management sold out all of its stake in LYV during the most recent quarter. The investment firm sold 25,521 shares of LYV which is valued $675,030. Trexquant Investment Lp sold out all of its stake in LYV during the most recent quarter. The investment firm sold 37,300 shares of LYV which is valued $986,585. Mesirow Financial Investment Management – Equity Management sold out all of its stake in LYV during the most recent quarter. The investment firm sold 47,058 shares of LYV which is valued $1,260,213.Montag A Associates Inc boosted its stake in LYV in the latest quarter, The investment management firm added 17,300 additional shares and now holds a total of 68,000 shares of Live Nation Entertainment which is valued at $1,811,520. Live Nation Entertainment makes up approx 0.23% of Montag A Associates Inc’s portfolio.

Live Nation Entertainment opened for trading at $26.88 and hit $27.24 on the upside on Wednesday, eventually ending the session at $27.02, with a gain of 0.60% or 0.16 points. The heightened volatility saw the trading volume jump to 868,966 shares. Company has a market cap of $5,487 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.

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