Live Nation Entertainment, Inc. $LYV Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 72.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,600 shares of the company's stock after purchasing an additional 11,600 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Live Nation Entertainment were worth $3,604,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in Live Nation Entertainment in the first quarter valued at approximately $30,000. Chilton Capital Management LLC acquired a new stake in Live Nation Entertainment in the first quarter valued at approximately $33,000. GW&K Investment Management LLC raised its holdings in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in Live Nation Entertainment in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of LYV traded down $0.13 during mid-day trading on Friday, reaching $173.94. 304,943 shares of the company's stock were exchanged, compared to its average volume of 2,423,928. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The business's fifty day simple moving average is $156.53 and its 200-day simple moving average is $142.79. Live Nation Entertainment, Inc. has a 52-week low of $97.40 and a 52-week high of $175.25. The stock has a market capitalization of $40.78 billion, a PE ratio of 75.29, a price-to-earnings-growth ratio of 11.53 and a beta of 1.42.

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 company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Live Nation Entertainment's revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Citigroup increased their price target on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the company a "positive" rating in a research note on Tuesday, June 10th. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a "buy" rating and a $195.00 price target on the stock. Finally, Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Eighteen research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Live Nation Entertainment currently has an average rating of "Buy" and a consensus target price of $170.72.

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.