Adams Wealth Management Takes $255,000 Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Adams Wealth Management has acquired a new stake in Live Nation Entertainment, totaling $255,000 for 1,971 shares in the first quarter of the year.
• Recent analyst reports show a bullish outlook for Live Nation, with several firms raising their price targets to around $180.00 and assigning a "buy" rating to the stock.
• Despite missing earnings estimates with $0.41 EPS, Live Nation reported revenue of $7.01 billion, exceeding analyst expectations and reflecting a 16.3% year-over-year increase.

Adams Wealth Management bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,971 shares of the company's stock, valued at approximately $255,000.

A number of other institutional investors also recently made changes to their positions in the stock. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the 4th quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $33,000. N.E.W. Advisory Services LLC acquired a new stake in Live Nation Entertainment during the first quarter worth approximately $42,000. Finally, GW&K Investment Management LLC grew its stake in Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after acquiring an additional 283 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

LYV stock traded down $0.8410 during trading hours on Wednesday, hitting $162.0590. 1,243,616 shares of the stock traded hands, compared to its average volume of 2,494,328. The stock has a 50-day simple moving average of $149.97 and a 200 day simple moving average of $140.89. The company has a market cap of $38.00 billion, a P/E ratio of 70.16, a P/E/G ratio of 9.78 and a beta of 1.46. Live Nation Entertainment, Inc. has a one year low of $92.57 and a one year high of $164.06. 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 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 business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Live Nation Entertainment's revenue was up 16.3% compared to the same quarter last year. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

LYV has been the topic of several recent analyst reports. Guggenheim reiterated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a report on Monday. They set a "buy" rating and a $195.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. Rosenblatt Securities dropped their price target 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. Finally, Roth Mkm decreased their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. 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 $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.