Assenagon Asset Management S.A. Has $19.42 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Assenagon Asset Management increased its Live Nation stake by 42.3% in the second quarter, bringing its holdings to 106,037 shares valued at approximately $19.42 million. Institutional investors collectively own 74.52% of the company.
• Analyst sentiment remains positive overall, with 20 Buy, two Hold, and two Sell ratings. Live Nation has a “Moderate Buy” consensus rating and an average price target of $197.19.
• Live Nation reported quarterly EPS of $1.05, beating estimates of $0.66, while revenue rose 9.4% year over year to $7.67 billion. Shares opened at $180.52, near their 12-month high of $188.00.

Assenagon Asset Management S.A. grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 42.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,037 shares of the company's stock after buying an additional 31,540 shares during the period. Assenagon Asset Management S.A.'s holdings in Live Nation Entertainment were worth $19,416,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company's stock valued at $2,269,000 after acquiring an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company's stock worth $121,000 after buying an additional 109 shares in the last quarter. Cerity Partners LLC increased its stake in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company's stock worth $4,160,000 after acquiring an additional 1,550 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company's stock worth $3,983,000 after purchasing an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company's stock worth $334,000 after purchasing an additional 1,711 shares during the period. Institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of several recent analyst reports. UBS Group raised their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a "buy" rating in a report on Monday, July 20th. Weiss Ratings lowered Live Nation Entertainment from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, July 31st. Susquehanna boosted their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Citigroup boosted their target price on Live Nation Entertainment from $181.00 to $212.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley increased their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $197.19.

Live Nation Entertainment Stock Down 0.1%

Shares of NYSE:LYV opened at $180.52 on Monday. The business has a fifty day simple moving average of $176.56 and a 200 day simple moving average of $163.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a market cap of $42.54 billion, a P/E ratio of -159.76 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $188.00.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to analysts' expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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