LYV
Live Nation Entertainment Inc
Consumer
10/23/2023
Presented
| Date | 10/13/2023 |
| Price | $84.55 |
| Market Cap | $19.46B |
| Ent Value | $24.79B |
| P/E Ratio | 79.84x |
| Book Value | N/A |
| Div Yield | 0% |
| Shares O/S | 230.15M |
| Ave Daily Vol | 2,052,118 |
| Short Int | 7.90% |
Current
| Price | $115.35 |
| Market Cap | $26.57B |
| Live Nation Entertainment, Inc. operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues. The Sponsorship and Advertising segment manages the development of strategic sponsorship programs in addition to the sale of international, national, and local sponsorships and placement of advertising such as signage, promotional programs, rich media offerings, including advertising associated with live streaming and music-related content, and ads across its distribution network of venues, events, and websites. The Ticketing segment is involved in the management of the global ticketing operations, including providing ticketing software and services to clients, and consumers with a marketplace, both online and mobile, for tickets and event information. The Ticketing segment also operates the firm's primary ticketing website, www.ticketmaster.com. The company was founded in 1996 and is headquartered in Beverly Hills, CA. |
Publicly traded companies mentioned herein: CTS Eventim AG & Co KGaA (EVD GR), Eventbrite Inc (EB), Live Nation Entertainment Inc (LYV), Sphere Entertainment Co (SPHR)
Highlights
The presenter is long shares of Live Nation Entertainment Inc (LYV), the world's largest ticket seller and promoter of live events. The stock has been held back by concerns around an antitrust breakup and consumer discretionary spend, both of which he considers overblown. He views the industry’s supply & demand dynamics as attractive, and LYV’s consolidation efforts over the last 15 years have created a vertically integrated, dominant player that will benefit from strong industry trends. For these reasons, he models the top line and bottom line above consensus for the next 3+ years, and gains incremental confidence from Liberty Media’s involvement (30% stake). This creates an attractive risk/reward setup from the current $85 share price, with a 12- to 18-month price target of $135 – $140 and downside limited to just 15% – 20%.
◆Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.
◆Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.