Live Nation Entertainment (LYV)

• Sector: Consumer Discretionary
• Industry: Amusement & Recreation Services

Market Cap: 21.7B

About: Live Nation is the largest live entertainment firm in the world, operating in 49 countries at the end of 2023 through its concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls or influences 373 venues, including the House of Blues. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 620 million tickets for over 10,000 clients in 2023. Live Nation also includes an artist management agency. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans.

Employees: 14,700

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

38% more first-time investments, than exits

New positions opened: 99 | Existing positions closed: 72

30% more funds holding in top 10

Funds holding in top 10: 10 [Q4 2023] → 13 (+3) [Q1 2024]

11% more capital invested

Capital invested by funds: $16B [Q4 2023] → $17.9B (+$1.8B) [Q1 2024]

4% more funds holding

Funds holding: 613 [Q4 2023] → 640 (+27) [Q1 2024]

9% more repeat investments, than reductions

Existing positions increased: 227 | Existing positions reduced: 208

1.13% less ownership

Funds ownership: 74.49% [Q4 2023] → 73.36% (-1.13%) [Q1 2024]

41% less call options, than puts

Call options by funds: $311M | Put options by funds: $525M

Research analyst outlook

17 Wall Street Analysts provided 1 year price forecasts over the past 6 months

• Low target: $108 15% upside
• Avg. target: $118 26% upside
• High target: $126 35% upside

17 analyst ratings

• positive: 17 100%
• neutral: 0 0%
• negative: 0 0%

Oppenheimer Jed Kelly	17% upside $110	Outperform Maintained	25 Jun 2024
Morgan Stanley Cameron Mansson-Perrone	28% upside $120	Overweight Maintained	12 Jun 2024
JP Morgan David Karnovsky	24% upside $116	Overweight Maintained	29 May 2024
Roth MKM Eric Handler	28% upside $120	Buy Reiterated	24 May 2024
Oppenheimer Jed Kelly	17% upside $110	Outperform Maintained	24 May 2024