1,658 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. acquired a new stake in Live Nation Entertainment, purchasing 1,658 shares valued at approximately $251,000 in the second quarter.
• Live Nation's stock has an average price target of $171.21 with a consensus rating of "Moderate Buy" from analysts.
• The company reported a revenue of $7.01 billion for the last quarter, exceeding analysts' expectations, despite missing the earnings per share estimate.

Patton Fund Management Inc. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,658 shares of the company's stock, valued at approximately $251,000.

Other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth about $30,000. Chilton Capital Management LLC bought a new stake in Live Nation Entertainment during the 1st quarter worth about $33,000. GW&K Investment Management LLC raised its stake in shares of Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after acquiring an additional 283 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Live Nation Entertainment in the first quarter valued at about $42,000. Finally, Private Trust Co. NA boosted its position in shares of Live Nation Entertainment by 94.2% in the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a research report on Monday, August 18th. They set a "buy" rating and a $195.00 price objective for the company. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Rothschild Redb downgraded Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Finally, Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $171.21.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $162.02 on Friday. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 70.14, a PEG ratio of 10.91 and a beta of 1.42. The business's fifty day moving average is $160.79 and its 200 day moving average is $145.30. Live Nation Entertainment, Inc. has a twelve month low of $107.14 and a twelve month high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same period in the previous year, the company earned $1.03 earnings per share. Live Nation Entertainment's revenue for the quarter was up 16.3% on a year-over-year basis. Research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

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