Live Nation Entertainment (LYV)

• Market cap: $31.3B
• 1 day: 1.53%
• 5 days: 6.33%
• 1 month: -1.63%
• 3 months: 17.71%
• 6 months: 40.21%
• Year to date: 4.94%
• 1 year: 50.16%
• 5 years: 79.52%
• 10 years: 445.71%
• 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]

18% more capital invested

Capital invested by funds: $16.2B [Q2] → $19B (+$2.86B) [Q3]

15% more repeat investments, than reductions

Existing positions increased: 234 | Existing positions reduced: 204

6% more first-time investments, than exits

New positions opened: 74 | Existing positions closed: 70

0.34% more ownership

Funds ownership: 75.07% [Q2] → 75.41% (+0.34%) [Q3]

0% less funds holding

Funds holding: 617 [Q2] → 616 (-1) [Q3]

45% less call options, than puts

Call options by funds: $348M | Put options by funds: $632M

Research analyst outlook

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

• Low target: $145 7% upside
• Avg. target: $152 12% upside
• High target: $163 20% upside

12 analyst ratings

• positive: 12 100%
• neutral: 0 0%
• negative: 0 0%

Benchmark Matthew Harrigan 59% 1-year accuracy 41 / 69 met price target	18% upside $160	Buy Maintained	19 Dec 2024
JP Morgan David Karnovsky 60% 1-year accuracy 15 / 25 met price target	11% upside $150	Overweight Maintained	12 Dec 2024
Roth MKM Eric Handler 79% 1-year accuracy 19 / 24 met price target	12% upside $152	Buy Maintained	12 Dec 2024
Guggenheim Curry Baker 33% 1-year accuracy 7 / 21 met price target	14% upside $155	Buy Maintained	4 Dec 2024
Citigroup Jason Bazinet 74% 1-year accuracy 23 / 31 met price target	20% upside $163	Buy Maintained	20 Nov 2024