Friedenthal Financial purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,985 shares of the company's stock, valued at approximately $905,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock valued at $2,596,305,000 after purchasing an additional 713,020 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Live Nation Entertainment by 4.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company's stock valued at $1,179,129,000 after purchasing an additional 379,924 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock valued at $991,952,000 after purchasing an additional 294,310 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Live Nation Entertainment by 21.4% in the 1st 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after purchasing an additional 884,745 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on LYV. Wolfe Research lifted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Benchmark boosted their price target on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Live Nation Entertainment in a research report on Saturday, September 27th. Rothschild Redb lowered Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $171.42.
Check Out Our Latest Stock Report on LYV
Live Nation Entertainment Stock Performance
Shares of LYV opened at $154.92 on Wednesday. The business's 50 day moving average is $161.73 and its two-hundred day moving average is $147.16. Live Nation Entertainment, Inc. has a 52-week low of $110.57 and a 52-week high of $175.25. The firm has a market cap of $36.32 billion, a price-to-earnings ratio of 67.07, a PEG ratio of 10.60 and a beta of 1.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced 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 net margin of 3.88% and a return on equity of 105.85%. The business 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 earnings per share. The business's revenue for the quarter was up 16.3% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Live Nation Entertainment Company Profile
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Free Report)
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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