Jackson Square Capital LLC Buys Shares of 1,976 Live Nation Entertainment, Inc. $LYV

Key Points

• Jackson Square Capital LLC acquired 1,976 shares of Live Nation Entertainment, valued at approximately $299,000, marking their entry into a new investment position.
• Live Nation's earnings report showed earnings per share of $0.41, missing expectations, while revenues reached $7.01 billion, exceeding predictions by $0.08 billion.
• Brokerages remain optimistic, with a consensus target price of $170.68 and a majority rating of "Buy" from 18 analysts, reflecting positive sentiment towards the company's stock performance.

Jackson Square Capital LLC bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,976 shares of the company's stock, valued at approximately $299,000.

Other large investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $1,153,000. Praxis Investment Management Inc. increased its stake in shares of Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after acquiring an additional 1,730 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Live Nation Entertainment in the 1st quarter worth about $272,000. Teacher Retirement System of Texas bought a new position in shares of Live Nation Entertainment in the 1st quarter worth about $3,081,000. Finally, Personal CFO Solutions LLC bought a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $277,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.6%

Shares of Live Nation Entertainment stock traded down $0.99 on Friday, reaching $163.69. 3,822,583 shares of the company were exchanged, compared to its average volume of 2,465,963. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a 1-year low of $102.72 and a 1-year high of $175.25. The company has a market cap of $38.38 billion, a P/E ratio of 70.86, a price-to-earnings-growth ratio of 11.43 and a beta of 1.42. The stock's 50 day moving average price is $158.97 and its 200-day moving average price is $143.75.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYV. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research note on Thursday, July 24th. Sanford C. Bernstein started coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target for the company. Finally, Citigroup increased their target price on Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Eighteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.68.

About Live Nation Entertainment

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.