Ethic Inc. Purchases 5,629 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Ethic Inc. increased its stake in Live Nation Entertainment by 24.0%, owning 29,074 shares valued at approximately $3.84 million after purchasing an additional 5,629 shares in the first quarter.
• Live Nation recently reported earnings of $0.41 earnings per share, which fell short of the expected $1.08, despite generating $7.01 billion in revenue during the quarter, exceeding analysts' projections.
• Analyst ratings for Live Nation Entertainment show a consensus of "Moderate Buy", with a target price averaging $167.41, indicating optimism among analysts despite the recent earnings miss.

Ethic Inc. increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 24.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,074 shares of the company's stock after acquiring an additional 5,629 shares during the quarter. Ethic Inc.'s holdings in Live Nation Entertainment were worth $3,838,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Aberdeen Group plc increased its holdings in shares of Live Nation Entertainment by 114.6% during the 1st quarter. Aberdeen Group plc now owns 90,001 shares of the company's stock worth $11,716,000 after acquiring an additional 48,062 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Live Nation Entertainment by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,067,785 shares of the company's stock valued at $139,332,000 after purchasing an additional 83,182 shares during the period. Horizon Investments LLC boosted its stake in Live Nation Entertainment by 5.1% in the 1st quarter. Horizon Investments LLC now owns 2,251 shares of the company's stock valued at $294,000 after purchasing an additional 110 shares during the period. Sei Investments Co. boosted its stake in Live Nation Entertainment by 0.3% in the 1st quarter. Sei Investments Co. now owns 205,441 shares of the company's stock valued at $26,606,000 after purchasing an additional 701 shares during the period. Finally, National Pension Service boosted its stake in Live Nation Entertainment by 2.5% in the 1st quarter. National Pension Service now owns 279,606 shares of the company's stock valued at $36,511,000 after purchasing an additional 6,704 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on LYV shares. Roth Mkm reduced their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research note on Thursday, July 24th. Oppenheimer boosted their price target on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Moffett Nathanson initiated coverage on Live Nation Entertainment in a research report on Monday. They set a "buy" rating and a $195.00 target price for the company. Finally, Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $168.94.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded up $3.3610 during trading on Friday, reaching $165.8310. 881,373 shares of the company's stock were exchanged, compared to its average volume of 2,484,205. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $166.13. The company has a market cap of $38.88 billion, a P/E ratio of 71.86, a PEG ratio of 9.76 and a beta of 1.46. The firm's 50-day moving average price is $150.76 and its 200 day moving average price is $141.15.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its 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 return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the company earned $1.03 EPS. Live Nation Entertainment's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.