Aberdeen Group plc Grows Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Aberdeen Group plc increased its holdings in Live Nation Entertainment by 3.9% in the second quarter, purchasing an additional 3,542 shares, bringing their total ownership to 93,543 shares valued at $14.15 million.
• Live Nation Entertainment reported earnings of $0.41 per share, falling short of analyst estimates of $1.08, though it exceeded revenue expectations with $7.01 billion in quarterly revenue.
• Analysts are optimistic about Live Nation's stock, with multiple firms raising their price targets, including Citigroup increasing theirs to $195.00, reflecting a consensus rating of "Moderate Buy."

Aberdeen Group plc grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,543 shares of the company's stock after purchasing an additional 3,542 shares during the quarter. Aberdeen Group plc's holdings in Live Nation Entertainment were worth $14,151,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Callan Family Office LLC lifted its stake in Live Nation Entertainment by 78.6% in the 2nd quarter. Callan Family Office LLC now owns 10,009 shares of the company's stock worth $1,514,000 after purchasing an additional 4,405 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Live Nation Entertainment by 4.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 7,692 shares of the company's stock valued at $1,164,000 after buying an additional 311 shares during the period. Friedenthal Financial purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $905,000. SteelPeak Wealth LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $2,682,000. Finally, Berger Financial Group Inc raised its position in shares of Live Nation Entertainment by 1.9% during the 2nd quarter. Berger Financial Group Inc now owns 39,463 shares of the company's stock valued at $5,970,000 after buying an additional 718 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.6%

NYSE:LYV opened at $152.91 on Wednesday. The firm has a market cap of $35.85 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 11.73 and a beta of 1.40. The stock has a fifty day moving average price of $162.01 and a 200 day moving average price of $148.05. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion during 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 company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on LYV. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Moffett Nathanson began 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 target on the stock. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Citigroup lifted their target price on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus target price of $171.42.

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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