2,760 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Versor Investments LP

Key Points

• Versor Investments LP recently purchased 2,760 shares of Live Nation Entertainment, Inc. for about $360,000, contributing to a growing interest from various institutional investors in the company.
• Live Nation reported a 16.3% increase in quarterly revenue year-over-year, bringing in $7.01 billion, although it missed earnings expectations with $0.41 EPS compared to the projected $1.08.
• Brokerages are optimistic about Live Nation's stock, with multiple firms raising their price targets; the average target now stands at $168.94 with 18 analysts rating it a "Buy."

Versor Investments LP bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,760 shares of the company's stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Live Nation Entertainment during the first quarter worth about $91,000. CacheTech Inc. acquired a new position in Live Nation Entertainment during the first quarter worth about $255,000. Corient IA LLC acquired a new position in Live Nation Entertainment during the first quarter worth about $392,000. Adams Wealth Management acquired a new position in Live Nation Entertainment during the first quarter worth about $255,000. Finally, Ethic Inc. raised its position in Live Nation Entertainment by 24.0% during the first quarter. Ethic Inc. now owns 29,074 shares of the company's stock worth $3,838,000 after acquiring an additional 5,629 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $162.0590 on Thursday. Live Nation Entertainment, Inc. has a one year low of $92.57 and a one year high of $164.06. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day moving average price of $150.34 and a 200 day moving average price of $141.04. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 70.16, a price-to-earnings-growth ratio of 9.83 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS 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 company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company posted $1.03 EPS. The business's revenue for the quarter was up 16.3% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYV. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Rosenblatt Securities cut their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a research report on Monday. They issued a "buy" rating and a $195.00 price objective for the company. Wolfe Research boosted their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, Benchmark boosted their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Eighteen research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $168.94.

Live Nation Entertainment Company 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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