Live Nation Entertainment (LYV) Outperformed Expectations in Q4 and 2023

Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here.  The Fund had a good year this time. The fund returned 7.99% in the fourth quarter, compared to S&P’s 11.69% return and Russell 1000 Value’s 9.50% return. The fund had 24.49% yearly returns compared to 26.29% and 11.46 % returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Fund featured stocks such as Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter 2023 investor letter. Headquartered in Beverly Hills, California, Live Nation Entertainment, Inc. (NYSE:LYV) is a live entertainment company. On January 23, 2024, Live Nation Entertainment, Inc. (NYSE:LYV) stock closed at $90.02 per share. One-month return of Live Nation Entertainment, Inc. (NYSE:LYV) was -3.18%, and its shares gained 16.11% of their value over the last 52 weeks. Live Nation Entertainment, Inc. (NYSE:LYV) has a market capitalization of $20.734 billion.

Longleaf Partners Fund stated the following regarding Live Nation Entertainment, Inc. (NYSE:LYV) in its fourth quarter 2023 investor letter:

Live Nation Entertainment, Inc. (NYSE:LYV) – Live Nation Entertainment, a new purchase this year, was a strong performer in the fourth quarter and a strong performer for the year as it outperformed expectations. Live Nation reported a great 3Q, with revenues and adjusted operating income up 30%+, concert revenues up 29% and ticketing up 55%. The company guided for continued strong growth in 2024. We have prior knowledge of Live Nation from our time owning various Liberty Media entities and are encouraged on future capital allocation that Liberty is still on the case as a 30%+ owner.”

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Live Nation Entertainment, Inc. (NYSE:LYV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Live Nation Entertainment, Inc. (NYSE:LYV) at the end of third quarter which was 41 in the previous quarter.

We discussed Live Nation Entertainment, Inc. (NYSE:LYV) in another article and shared the list of narrow moat stocks hedge funds are buying. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.