Aberdeen Group plc Purchases 48,062 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Aberdeen Group plc has increased its holdings in Live Nation Entertainment by 114.6%, acquiring an additional 48,062 shares, bringing its total ownership to 90,001 shares valued at approximately $11.7 million.
• Live Nation Entertainment reported a net profit margin of 3.88% and revenue growth of 16.3% year-over-year, with earnings per share of $0.41, missing estimates by $0.67.
• Institutional investors own 74.52% of Live Nation's stock, with eighteen analysts rating it as a "buy" and a consensus target price of $168.94, indicating strong market confidence.

Aberdeen Group plc raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 114.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,001 shares of the company's stock after acquiring an additional 48,062 shares during the period. Aberdeen Group plc's holdings in Live Nation Entertainment were worth $11,716,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LYV. Rockefeller Capital Management L.P. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $1,405,000. Mariner LLC raised its position in shares of Live Nation Entertainment by 8.3% in the fourth quarter. Mariner LLC now owns 10,953 shares of the company's stock valued at $1,418,000 after buying an additional 844 shares in the last quarter. First Trust Advisors LP raised its position in shares of Live Nation Entertainment by 155.3% in the fourth quarter. First Trust Advisors LP now owns 457,122 shares of the company's stock valued at $59,197,000 after buying an additional 278,061 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Live Nation Entertainment by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 984,603 shares of the company's stock valued at $127,528,000 after buying an additional 80,109 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Live Nation Entertainment by 123.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,260 shares of the company's stock valued at $1,717,000 after buying an additional 7,317 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $162.7870 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $38.17 billion, a PE ratio of 70.47, a P/E/G ratio of 9.78 and a beta of 1.46. Live Nation Entertainment, Inc. has a 12 month low of $92.57 and a 12 month high of $164.06. The stock has a 50-day moving average price of $149.97 and a two-hundred day moving average price of $140.89.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its 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). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. Live Nation Entertainment's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on LYV. 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. Guggenheim restated a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Oppenheimer boosted their price objective 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. 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, Rosenblatt Securities lowered 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. Eighteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Live Nation Entertainment 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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