Live Nation Entertainment (LYV)

• Market cap: $29.9B
• 1 day: -0.15%
• 5 days: 4.58%
• 1 month: 11.83%
• 3 months: 36.61%
• 6 months: 33.71%
• Year to date: 40.51%
• 1 year: 44.64%
• 5 years: 97.25%
• 10 years: 396.15%
• Sector: Consumer Discretionary
• Industry: Amusement & Recreation Services

About: Live Nation is the largest live entertainment company in the world, serving as a concert promoter, venue operator, and ticketing platform. In addition, the firm generates revenue from sponsorships and advertising. With offices in 45 countries, Live Nation promotes concerts globally and it owns, operates, or had exclusive booking rights to 373 venues worldwide at the end of 2023, which the firm says makes it the second-largest operator of music venues globally. In 2023, Live Nation promoted more than 50,000 events, drawing more than 145 million fans. Ticketmaster is a dominant global ticketing service, selling more than 620 million tickets in 2023.

Employees: 14,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

33% more funds holding in top 10

Funds holding in top 10: 12 [Q2] → 16 (+4) [Q3]

17% more capital invested

Capital invested by funds: $16.1B [Q2] → $18.8B (+$2.74B) [Q3]

16% more repeat investments, than reductions

Existing positions increased: 232 | Existing positions reduced: 200

0.05% less ownership

Funds ownership: 74.71% [Q2] → 74.66% (-0.05%) [Q3]

2% less funds holding

Funds holding: 617 [Q2] → 606 (-11) [Q3]

13% less first-time investments, than exits

New positions opened: 73 | Existing positions closed: 84

44% less call options, than puts

Call options by funds: $341M | Put options by funds: $613M

Research analyst outlook

16 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $120 7% downside
• Avg. target: $139 8% upside
• High target: $155 20% upside

16 analyst ratings

• positive: 16 100%
• neutral: 0 0%
• negative: 0 0%

Macquarie Paul Golding 88% 1-year accuracy 35 / 40 met price target	13% upside $146	Outperform Maintained	15 Nov 2024
B of A Securities Peter Henderson 50% 1-year accuracy 2 / 4 met price target	16% upside $149	Buy Maintained	14 Nov 2024
Goldman Sachs Stephen Laszczyk 50% 1-year accuracy 2 / 4 met price target	15% upside $148	Buy Maintained	13 Nov 2024
Guggenheim Curry Baker 56% 1-year accuracy 9 / 16 met price target	13% upside $146	Buy Maintained	12 Nov 2024
TD Cowen Doug Creutz 60% 1-year accuracy 3 / 5 met price target	12% upside $145	Buy Maintained	12 Nov 2024