Friess Associates adds Live Nation Entertainment (LYV) to its portfolio

Live Nation Entertainment (LYV) : Friess Associates added new position in Live Nation Entertainment during the most recent quarter end. The investment management firm now holds 682,250 shares of Live Nation Entertainment which is valued at $19,423,658 , the company said in a statement filed on Nov 14, 2016 with the SEC.Live Nation Entertainment makes up approximately 1.95% of Friess Associates’s portfolio.

Other Hedge Funds, Including , Barings sold out all of its stake in LYV during the most recent quarter. The investment firm sold 35,200 shares of LYV which is valued $1,002,144. Elk Creek Partners added LYV to its portfolio by purchasing 7,753 company shares during the most recent quarter which is valued at $223,131. Live Nation Entertainment makes up approx 0.02% of Elk Creek Partners’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in LYV by selling 200,968 shares or 4.84% in the most recent quarter. The Hedge Fund company now holds 3,947,993 shares of LYV which is valued at $109,319,926. Live Nation Entertainment makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio.Blackrock Investment Management reduced its stake in LYV by selling 34,848 shares or 8.38% in the most recent quarter. The Hedge Fund company now holds 381,238 shares of LYV which is valued at $10,556,480. Live Nation Entertainment makes up approx 0.01% of Blackrock Investment Management’s portfolio.Advisors Asset Management reduced its stake in LYV by selling 300 shares or 7.89% in the most recent quarter. The Hedge Fund company now holds 3,500 shares of LYV which is valued at $94,535.

Live Nation Entertainment closed down -0.51 points or -1.79% at $28.05 with 9,36,232 shares getting traded on Monday. Post opening the session at $28.48, the shares hit an intraday low of $28 and an intraday high of $28.55 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Live Nation Entertainment reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.48. The company had revenue of $3170.42 million for the quarter, compared to analysts expectations of $2818.86 million. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 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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