Blair William & Co. IL Reduces Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Blair William & Co. IL has reduced its position in Live Nation Entertainment by 3.4%, now holding 702,111 shares worth approximately $106.2 million.
• Live Nation recently reported quarterly earnings with revenues of $7.01 billion, exceeding estimates, while EPS of $0.41 fell short of the expected $1.08.
• Analysts are generally optimistic about Live Nation, with several raising price targets, including Citigroup to $195 and Benchmark to $190, maintaining a consensus rating of "Moderate Buy".

Blair William & Co. IL reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 702,111 shares of the company's stock after selling 24,833 shares during the quarter. Blair William & Co. IL owned 0.30% of Live Nation Entertainment worth $106,215,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Nuveen LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $201,501,000. Independent Franchise Partners LLP boosted its stake in shares of Live Nation Entertainment by 21.4% during the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock valued at $744,118,000 after purchasing an additional 1,004,574 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 46.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after purchasing an additional 884,745 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Live Nation Entertainment in the 2nd quarter worth about $128,704,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $207,490,000 after buying an additional 723,112 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $150.02 on Thursday. Live Nation Entertainment, Inc. has a one year low of $111.28 and a one year high of $175.25. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 10.56 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day simple moving average of $161.68 and a two-hundred day simple moving average of $147.18.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm earned $1.03 EPS. The company's revenue was up 16.3% compared to the same quarter last year. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Benchmark raised their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Citigroup raised their price objective on Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Guggenheim reiterated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Rothschild & Co Redburn downgraded Live Nation Entertainment from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $171.42.

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.

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