Carillon Scout Mid Cap Fund is bullish on Live Nation Entertainment (LYV)

Carillon Tower Advisers, an investment management firm, released its Q2 2022 “Carillon Scout Mid Cap Fund” letter to investors. A copy of it can be downloaded here. In the second quarter, most stock indices fell due to interest rate hikes, the war between Russia and Ukraine and the gradual reduction of the Federal Reserve’s balance sheet. Small- and mid-cap stocks underperformed in the quarter relative to other investments. The fund’s portfolio was most overweight in the utilities and consumer staples sectors and is currently underweight in the information technology sector. Additionally, you can check out the fund’s top 5 holdings for its best picks in 2022.

Carillon Tower Advisers discussed stocks such as Live Nation Entertainment, Inc. (NYSE:LYV) in its second quarter 2022 investor letter. Headquartered in Beverly Hills, California, Live Nation Entertainment, Inc. (NYSE:LYV) is a live entertainment company. On October 5, 2022, shares of Live Nation Entertainment, Inc. (NYSE:LYV) closed at $80.67 per share. Live Nation Entertainment, Inc. (NYSE:LYV)’s one-month return was -11.09% and its shares lost 18.49% of their value over the past 52 weeks. Live Nation Entertainment, Inc. (NYSE:LYV) has a market capitalization of $18.552 billion.

Here is what Carillon Tower Advisers specifically said about Live Nation Entertainment, Inc. (NYSE:LYV) in their second quarter 2022 investor letter:

Live Nation Entertainment, Inc.. (NYSE:LYV) fell as economic concerns mounted during the quarter and a new wave of the pandemic gained traction. Since this company also promotes concerts and shows in Europe and Latin America, economic concerns in these regions may have affected confidence. We are encouraged by the potential for very strong pent-up demand for concerts and shows after the pandemic.”

Live Nation Entertainment, Inc. (NYSE:LYV) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 40 hedge fund portfolios owned Live Nation Entertainment, Inc. (NYSE:LYV) at the end of the second quarter, up from 51 in the previous quarter.

We covered Live Nation Entertainment, Inc. (NYSE:LYV) in another article and shared the list of the most valuable music companies in the world. Also, check out our Q2 2022 Hedge Fund Investor Letters page for more letters from hedge fund investors and other leading investors.

Suggested Items:

Disclosure: none. This article was originally published on Insider Monkey.

Leave a Comment