Focus Partners Wealth Reduces Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Focus Partners Wealth has reduced its stock holdings in Live Nation Entertainment by 3.6%, now owning 53,301 shares valued at approximately $6.96 million.
• Analysts have given Live Nation Entertainment a consensus rating of "Buy", with price targets ranging from $165.00 to $195.00 from various research firms.
• Despite a miss on earnings per share expectations, Live Nation reported a robust revenue of $7.01 billion for the quarter, exceeding analyst expectations by $0.08 billion.

Focus Partners Wealth decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,301 shares of the company's stock after selling 1,997 shares during the period. Focus Partners Wealth's holdings in Live Nation Entertainment were worth $6,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wayfinding Financial LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $33,000. GW&K Investment Management LLC grew its stake in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after purchasing an additional 283 shares during the period. N.E.W. Advisory Services LLC bought a new position in Live Nation Entertainment in the first quarter worth $42,000. Finally, Private Trust Co. NA lifted its position in Live Nation Entertainment by 94.2% during the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after buying an additional 196 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LYV shares. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective on the stock. Citigroup upped their price target on Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research note on Thursday, July 24th. Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $170.72.

Live Nation Entertainment Trading Down 0.2%

Shares of Live Nation Entertainment stock opened at $173.75 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $40.74 billion, a PE ratio of 75.22, a P/E/G ratio of 11.74 and a beta of 1.42. Live Nation Entertainment, Inc. has a 1-year low of $97.40 and a 1-year high of $175.25. The company's fifty day simple moving average is $157.02 and its 200-day simple moving average is $143.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $6.93 billion. During the same period last year, the company earned $1.03 earnings per share. The business's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities 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.

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