Ascent Group LLC Purchases Shares of 1,698 Live Nation Entertainment, Inc. $LYV

Ascent Group LLC purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,698 shares of the company's stock, valued at approximately $257,000.

A number of other hedge funds also recently made changes to their positions in the stock. Wayfinding Financial LLC purchased a new stake in Live Nation Entertainment during the 1st quarter worth $30,000. Chilton Capital Management LLC purchased a new stake in Live Nation Entertainment during the 1st quarter worth $33,000. GW&K Investment Management LLC increased its stake in Live Nation Entertainment by 690.2% during the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after buying an additional 283 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Live Nation Entertainment during the 1st quarter worth $42,000. Finally, Private Trust Co. NA increased its stake in Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 3.4%

LYV stock opened at $150.02 on Thursday. Live Nation Entertainment, Inc. has a 12 month low of $111.28 and a 12 month high of $175.25. The firm has a market cap of $35.18 billion, a PE ratio of 64.94, a P/E/G ratio of 10.56 and a beta of 1.40. The firm has a 50 day simple moving average of $161.68 and a 200 day simple moving average of $147.18. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LYV shares. Citigroup upped their target price 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, September 9th. Weiss Ratings restated a "hold (c)" rating on shares of Live Nation Entertainment in a research note on Wednesday. Guggenheim reaffirmed a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Benchmark boosted their price target on Live Nation Entertainment from $180.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 26th. Finally, Rothschild & Co Redburn cut Live Nation Entertainment from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $171.42.

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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