Czech National Bank Has $5.83 Million Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• The Czech National Bank increased its holdings in Live Nation Entertainment by 7.0% during the second quarter, now owning 38,524 shares valued at approximately $5.83 million.
• Live Nation reported a missed EPS estimate of $0.41 compared to the expected $1.08, despite achieving a revenue of $7.01 billion which exceeded estimates.
• Analysts are optimistic about Live Nation's stock, with eighteen rating it as a buy and a consensus price target of $170.68, indicating strong confidence in its future performance.

Czech National Bank lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,524 shares of the company's stock after purchasing an additional 2,508 shares during the quarter. Czech National Bank's holdings in Live Nation Entertainment were worth $5,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Live Nation Entertainment by 24.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 636 shares of the company's stock worth $96,000 after buying an additional 125 shares during the last quarter. E. Ohman J or Asset Management AB bought a new stake in Live Nation Entertainment during the 2nd quarter worth $793,000. Parallel Advisors LLC increased its holdings in Live Nation Entertainment by 27.0% in the 2nd quarter. Parallel Advisors LLC now owns 6,371 shares of the company's stock worth $964,000 after purchasing an additional 1,354 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company's stock valued at $835,000 after purchasing an additional 97 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Live Nation Entertainment during the first quarter worth about $915,000. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYV. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a report on Thursday, July 24th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Moffett Nathanson started coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective for the company. 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. Finally, Rothschild Redb downgraded shares of Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.68.

Live Nation Entertainment Trading Up 0.9%

LYV stock traded up $1.51 during mid-day trading on Monday, reaching $165.23. The company's stock had a trading volume of 1,962,881 shares, compared to its average volume of 2,142,613. The company has a market cap of $38.74 billion, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 11.04 and a beta of 1.42. Live Nation Entertainment, Inc. has a 12 month low of $103.28 and a 12 month high of $175.25. The business's 50 day moving average price is $159.70 and its 200 day moving average price is $144.34. 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 (NYSE:LYV - Get Free Report) last released its quarterly earnings data 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). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business's revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.