Top 10 Stocks to Buy According to Jericho Capital Asset Management

4. Live Nation Entertainment, Inc. (NYSE:LYV)

Number of Hedge Fund Holders as of Q4: 60

Jericho Capital Asset Management’s Equity Stake: $415.45 Million 

Live Nation Entertainment, Inc. (NYSE:LYV), a global leader in live event promotion and ticket sales, reported record-breaking financial results for 2024, reflecting the surging demand for live music. The company saw its concert attendance rise by 4%, with 151 million fans attending over 50,000 events worldwide—an increase of 9% from the previous year. This growth contributed to a record-high adjusted operating income (AOI) for its concerts segment, which surged by 65% to $530 million, with margins reaching 2.8%.

Live Nation Entertainment, Inc. (NYSE:LYV)’s overall financial performance was strong, with operating income reaching $825 million and adjusted operating income hitting $2.15 billion. The company also exceeded market expectations, reporting earnings of $0.56 per share for the quarter that ended in December 2024, beating analyst estimates by $1.70. Revenue for the quarter came in at $5.68 billion, surpassing projections by $22 million. CEO Michael Rapino highlighted 2024 as the biggest year yet for live music, with 2025 expected to be even stronger, driven by a robust global concert pipeline and an increasing number of stadium shows. To support this momentum, Live Nation Entertainment, Inc. (NYSE:LYV) is investing in music-centric venues and expanding its support for artists, with investments in performers more than doubling over the past five years.

Looking ahead, the company remains focused on long-term growth by reinvesting in the live music industry while enhancing the fan experience. Live Nation Entertainment, Inc. (NYSE:LYV)’s strategy includes building new venues to accommodate rising demand, ensuring its operating income and AOI continue to grow at double-digit rates. As live music remains a dominant force in global entertainment, the company’s commitment to artists, fans, and infrastructure positions it for continued success in the coming years.

By the end of Q4 2024, Resnick owned more than 3.2 million shares of Live Nation Entertainment, Inc. (NYSE:LYV), with a total value of approximately $415.45 million. This positioned the stock as the fourth-highest on the list of top 10 stocks to buy according to Jericho Capital Asset Management.