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LYV
LONGINSIDER SELLLIVE NATION ENTERTAINMENT IN
Funds
4
Score
6.00
vs SPY
-5.9%
Stock return (since Q-end)
+10.4%
SPY return (since Q-end)
+16.3%
Current price
$168.41
News Summary
NegativeLive Nation beat Q1 2026 revenue expectations (+12% YoY) with strong forward bookings and reaffirmed double-digit AOI growth guidance, but faces a critical $450M legal accrual and an adverse jury verdict on April 15, 2026 in the states' antitrust case finding unlawful monopolization—with remedies phase pending and potential structural relief at risk. The company also reported a GAAP operating loss of -$370.5M (vs. +$114.8M prior year) driven by legal charges, and missed EPS consensus by $1.50, though investor focus remained on operational momentum.
Red flags
- •Jury verdict against Live Nation on all federal and state antitrust counts (April 15, 2026) with remedies phase pending; potential structural relief including forced divestitures
- •GAAP operating loss of -$370.5M in Q1 2026 (swing from +$114.8M in Q1 2025) due to legal accruals
- •EPS miss of -$1.499 vs consensus (-$0.351); reported -$1.85 EPS
- •$450M legal reserve accrual for states' suit damages; company acknowledges verdict is 'legally infirm' but remedy risk remains material
- •FTC deceptive pricing lawsuit ongoing with motion to dismiss still pending; separate antitrust exposure with 44% hidden fees allegation ($16.4B claimed from 2019-2024)
- •Ticketmaster controls ~86% of primary ticketing at major venues, Live Nation ~70% of promotions—concentrated market position now judicially determined unlawful
Funds Buying (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | QoQ | Status |
|---|---|---|---|---|---|---|
| Point72 | Steve Cohen | 751K | +751K | $114.6B | — | NEW |
| D1 Capital | Dan Sundheim | 674K | +674K | $102.8B | — | NEW |
| ValueAct Holdings | Mason Morfit | 625K | +625K | $95.3B | — | NEW |
| Third Point | Dan Loeb | 465K | +465K | $70.9B | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed |
|---|---|---|---|---|---|---|
| Rowles Michael | EVP & General Counsel | SELL | 38K | $163.07 | $6.14M | 2026-05-08 |
| Rowles Michael | EVP & General Counsel | SELL | 4K | $164.96 | $0.60M | 2026-05-08 |
| Rowles Michael | EVP & General Counsel | SELL | 17K | $165.98 | $2.78M | 2026-05-08 |
| Rowles Michael | EVP & General Counsel | SELL | 6K | $166.36 | $0.95M | 2026-05-08 |
| Hopmans John | EVP, M&A and Strategic Finance | SELL | 4K | $166.19 | $0.60M | 2026-05-07 |
| Hopmans John | EVP, M&A and Strategic Finance | SELL | 6K | $166.78 | $1.00M | 2026-05-07 |
| Hopmans John | EVP, M&A and Strategic Finance | SELL | 19K | $164.37 | $3.11M | 2026-05-07 |
| Hopmans John | EVP, M&A and Strategic Finance | SELL | 13K | $165.81 | $2.12M | 2026-05-07 |
| Hopmans John | EVP, M&A and Strategic Finance | SELL | 47K | $166.60 | $7.83M | 2026-05-07 |
| Hopmans John | EVP, M&A and Strategic Finance | SELL | 5K | $167.41 | $0.80M | 2026-05-07 |