Amundi Boosts Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Amundi increased its stake in Live Nation Entertainment by 1.3%, now owning 1,102,949 shares valued at approximately $139 million.
• Live Nation's earnings report showed a quarterly revenue of $7.01 billion, exceeding expectations, despite missing EPS estimates with $0.41.
• Several analysts have set target prices for Live Nation stock ranging from $165 to $195, with a consensus rating of "Buy" from 18 investment analysts.

Amundi grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,102,949 shares of the company's stock after buying an additional 13,659 shares during the period. Amundi owned 0.48% of Live Nation Entertainment worth $139,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $1,153,000. Praxis Investment Management Inc. raised its position in shares of Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after buying an additional 1,730 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $272,000. Teacher Retirement System of Texas acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $3,081,000. Finally, Personal CFO Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $277,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 0.2%

Shares of LYV stock opened at $163.27 on Friday. 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 firm has a market cap of $38.28 billion, a PE ratio of 70.68, a price-to-earnings-growth ratio of 10.99 and a beta of 1.42. The company has a 50-day moving average of $154.84 and a two-hundred day moving average of $142.28. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $167.94.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its 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). The company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective for the company. 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 objective for the company. Finally, Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Eighteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $168.94.

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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