Live Nation Entertainment, Inc. $LYV Stock Position Lifted by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has significantly increased its investment in Live Nation Entertainment, raising its stake by 317.9% to own approximately 350,294 shares valued at $45.7 million.
• Live Nation reported a net margin of 3.88% and revenue of $7.01 billion for the last quarter, indicating a 16.3% increase year-over-year, though it missed EPS estimates by ($0.67).
• A majority of analysts rate Live Nation shares as a "Buy", with a consensus price target of $168.94 based on recent reports.

Ameriprise Financial Inc. lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 317.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 350,294 shares of the company's stock after acquiring an additional 266,462 shares during the period. Ameriprise Financial Inc. owned 0.15% of Live Nation Entertainment worth $45,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Live Nation Entertainment by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after acquiring an additional 713,020 shares during the last quarter. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after purchasing an additional 294,310 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after buying an additional 884,745 shares during the period. Groupama Asset Managment grew its holdings in shares of Live Nation Entertainment by 0.3% during the 1st quarter. Groupama Asset Managment now owns 2,006,693 shares of the company's stock worth $2,896,000 after purchasing an additional 6,693 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Live Nation Entertainment by 83.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company's stock worth $207,490,000 after acquiring an additional 723,112 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on LYV. Sanford C. Bernstein began coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target on the stock. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research report on Thursday, July 24th. Wolfe Research upped their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price on the stock. Finally, Benchmark upped their target price on 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 analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $168.94.

Live Nation Entertainment Stock Performance

LYV traded down $2.12 during trading on Tuesday, reaching $164.37. 664,774 shares of the company were exchanged, compared to its average volume of 2,441,557. The stock has a market cap of $38.54 billion, a P/E ratio of 71.16, a PEG ratio of 10.04 and a beta of 1.42. The firm has a 50 day moving average of $153.60 and a 200 day moving average of $141.85. 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, Inc. has a 52 week low of $92.57 and a 52 week high of $167.22.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.Live Nation Entertainment's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

About Live Nation Entertainment

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.