We recently published a list of 10 Stocks Market Experts are Talking About These Days. In this article, we are going to take a look at where Live Nation Entertainment, Inc. (NYSE:LYV) stands against other stocks that market experts are talking about these days.
Piper Sandler’s Chief Market Technician Craig Johnson said in a latest program on CNBC that despite the recent market volatility and “negative” headlines, he sees buying opportunities for long-term investors.
“The headlines out here are extremely negative all over the place and the sentiment toward this market is absolutely awful. Typically, you find these readings near sort of bear market lows, which is what you typically see. And if you also start to look at the VIX, it is elevated out here at this point in time. Now, technically we have broken some uptrends, we’ve closed below 50 and 200-day moving averages, but we’re getting to some pretty washed-out levels. I started looking at new highs, new lows, breadth indicators, and all these pieces. And we’re starting to get to levels where you look back and say, “Is this 1989? Is this a period of time that’s like the great financial crisis or the ’87 market crash?” And I think the answer to that is flat out no. So, we’re setting ourselves up for, I think, a potentially pretty good buying opportunity. All this negativity, and again, as Warren Buffett has said, you’ve got to be greedy when people are fearful. When people are greedy, and definitely a lot of fear out here, that seems to me to be a little bit misplaced on the charts.”
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For this article, we picked 10 stocks notable Wall Street analysts were discussing over the past few days. With each company we have mentioned the latest hedge fund sentiment. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A group of people in a large music venue, enjoying a vibrant concert.
Live Nation Entertainment, Inc. (NYSE:LYV)
Number of Hedge Funds Investors: 44
Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, said in a latest program on CNBC that Live Nation Entertainment, Inc. (NYSE:LYV) is “extremely oversold.”
“Live Nation, okay, looking for support at the 50-day. Take a look at this, folks. This is a stock that has been on the list pretty much for the last six months. For the most part, it’s above its 200-day, but its RSI is completely washed out. Relative strength is down at 21 in trading, and we say around 30 is an oversold stock. So, this is extraordinarily oversold, down 11% on the year, down 12% in just the past week. But again, look at where it is relative to that support level, that 200-day. I think she could hold.”
Baron Focused Growth Fund stated the following regarding Live Nation Entertainment, Inc. (NYSE:LYV) in its Q4 2024 investor letter:
“In the fourth quarter, we initiated a new position in Live Nation Entertainment, Inc. (NYSE:LYV), the leader in the management and operation of live concerts at their owned and third-party venues. They are a leader in concert venue operations, tour promotions, event ticketing through Ticketmaster, and the selling of sponsorships and advertising on their website and owned venues. Live Nation’s dominant share in ticketing and unmatched scale in concert promotions are key competitive advantages for them and give them the ability to monetize tours through ticketing, sponsorships, and hig-margin food and beverage at their owned and operated venues. Concerts and live events are a secular growing business that we believe should grow at a high single-digit rate for the company as the industry grows and they take share. We believe the company has an opportunity to significantly increase pricing or add new supply given the continued consumer preference for experiences over goods and the scarce nature of these events. The company has an incredible brand, and benefits in both upcycles with strong demand, and downcycles through an increase in supply as touring is a significant part of artists’ incomes. Despite concerns about slower consumer spending growth from peak levels, the company continues to grow at a double-digit rate in revenue despite consumer worries and is now leaning in with increased marketing to grow internationally where it remains underpenetrated. The company is still generating strong cash flow with a robust balance sheet to fund venue renovations where it expects to generate 20% returns on capital. John Malone of Liberty Media still owns 30% of the business with the CEO owning a significant portion of his net worth in the stock. We believe valuation remains attractive at current levels given the double-digit growth we expect in both revenue and earnings over the coming years.”
Overall, LYV ranks 9th on our list of stocks that market experts are talking about these days. While we acknowledge the potential of LYV, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LYV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
