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Live Nation Entertainment, Inc. (LYV): Hedge Funds and Insiders Are Bullish, What Should You Do?

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Live Nation Entertainment, Inc. (NYSE:LYV) was in 27 hedge funds’ portfolio at the end of March. LYV shareholders have witnessed an increase in enthusiasm from smart money recently. There were 20 hedge funds in our database with LYV positions at the end of the previous quarter.

Live Nation Entertainment, Inc. (NYSE:LYV)

At the moment, there are plenty of methods investors can use to monitor publicly traded companies. A duo of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can outperform their index-focused peers by a very impressive margin (see just how much).

Equally as beneficial, positive insider trading activity is a second way to parse down the investments you’re interested in. There are plenty of stimuli for an upper level exec to get rid of shares of his or her company, but just one, very obvious reason why they would buy. Plenty of empirical studies have demonstrated the market-beating potential of this tactic if you know what to do (learn more here).

Keeping this in mind, we’re going to take a glance at the key action encompassing Live Nation Entertainment, Inc. (NYSE:LYV).

How are hedge funds trading Live Nation Entertainment, Inc. (NYSE:LYV)?

At Q1’s end, a total of 27 of the hedge funds we track were long in this stock, a change of 35% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes meaningfully.

When looking at the hedgies we track, Debra Fine’s Fine Capital Partners had the biggest position in Live Nation Entertainment, Inc. (NYSE:LYV), worth close to $102.3 million, accounting for 10% of its total 13F portfolio. Coming in second is Wallace R. Weitz & Co., managed by Wallace Weitz, which held a $67.2 million position; 2.7% of its 13F portfolio is allocated to the company. Other peers with similar optimism include Chase Coleman and Feroz Dewan’s Tiger Global Management LLC, Larry Foley and Paul Farrell’s Bronson Point Partners and Mario Gabelli’s GAMCO Investors.

As industrywide interest jumped, some big names have been driving this bullishness. Bronson Point Partners, managed by Larry Foley and Paul Farrell, created the most valuable position in Live Nation Entertainment, Inc. (NYSE:LYV). Bronson Point Partners had 17.6 million invested in the company at the end of the quarter. John Thaler’s JAT Capital Management also made a $13.8 million investment in the stock during the quarter. The following funds were also among the new LYV investors: D. E. Shaw’s D E Shaw, Robert Jaffe’s Force Capital, and Israel Englander’s Millennium Management.

What do corporate executives and insiders think about Live Nation Entertainment, Inc. (NYSE:LYV)?

Insider trading activity, especially when it’s bullish, is best served when the primary stock in question has experienced transactions within the past six months. Over the last six-month time frame, Live Nation Entertainment, Inc. (NYSE:LYV) has seen 2 unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Live Nation Entertainment, Inc. (NYSE:LYV). These stocks are Bona Film Group Ltd (ADR) (NASDAQ:BONA), World Wrestling Entertainment, Inc. (NYSE:WWE), The Madison Square Garden Co (NASDAQ:MSG), IMAX Corporation (USA) (NYSE:IMAX), and Starz (NASDAQ:STRZA). This group of stocks belong to the entertainment – diversified industry and their market caps are closest to LYV’s market cap.

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