Goldman Sachs Group Inc. has decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.6% during the 4th quarter, according to a recent 13F filing with the SEC. The fund now owns 1,185,405 shares of the company's stock after selling 140,230 shares. Other hedge funds and institutional investors have also made changes to their positions in the company. Live Nation Entertainment's stock is currently trading at $88.75, with a 50-day simple moving average of $94.22 and a 200-day simple moving average of $93.90. The company reported a net margin of 2.22% and a return on equity of 90.67% in its most recent quarterly earnings report. Analysts have given Live Nation Entertainment a consensus rating of 'Moderate Buy' with a target price of $115.58.
Warren Buffett's investment firm, Berkshire Hathaway, has acquired 7,599,572 shares of Liberty SiriusXM Group, increasing its stake in the company significantly. The purchase price was $29.1 per share, bringing Berkshire Hathaway's total holdings to 65,486,288 shares, representing a 20.05% ownership stake. Liberty SiriusXM Group operates a subscription-based satellite radio service and has a market capitalization of $9.69 billion. Buffett's investment reflects his confidence in the company's long-term growth potential and has had a positive impact on the stock's market performance.
Alberta Investment Management Corp, an institutional investor based in Alberta, Canada, has made a new investment of $22.18 million in Liberty Live Group (NASDAQ:LLYVA). The investment firm purchased 694,951 shares of the company's stock, representing a 2.71% ownership stake. Other large investors have also recently adjusted their positions in LLYVA. The stock of Liberty Live Group traded at $38.99 on Friday, with a fifty-day moving average of $35.97 and a 200-day moving average of $33.90.
Kent Lake Capital LLC acquired 650,000 shares of iHeartMedia, Inc. (NASDAQ:IHRT) valued at approximately $1.74 million. Other institutional investors and hedge funds have also made changes to their positions in the company. iHeartMedia, Inc. operates as an audio media company in the United States and internationally. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.04. The company had revenue of $1.07 billion during the quarter. Guggenheim lowered their price target on iHeartMedia from $6.00 to $5.00 and set a 'buy' rating for the company in a report on Monday, March 4th.
Live Nation Entertainment, Inc. recently faced financial challenges as it missed profit expectations for the second quarter. This caused its shares to drop over 3% in extended trading. Operating expenses climbed to $4.41 billion compared to $4.16 billion a year ago. Revenues hit $6.02 billion, meeting expectations, but net income available to shareholders fell short at $251.4 million against analysts' estimates of $254.2 million. Concert-goers are tightening their wallets due to elevated ticket prices, higher interest rates, and broader economic uncertainties. The US Justice Department has an ongoing lawsuit aiming to break up Live Nation and its Ticketmaster unit, potentially leading to a trial in early 2026. The financial challenges faced by Live Nation are ringing alarm bells across the entertainment sector. Regulatory scrutiny is tightening its grip, with the US Justice Department's lawsuit underlining broader concerns about monopoly power in the ticketing industry. This legal battle may reshape the landscape for large entertainment conglomerates. [f37112fb]