GLOBALT Investments LLC GA purchased a new position 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 Securities and Exchange Commission (SEC). The fund purchased 4,413 shares of the company's stock, valued at approximately $668,000.
Other hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. purchased a new stake in Live Nation Entertainment during the first quarter valued at $1,153,000. Stratos Wealth Partners LTD. purchased a new stake in Live Nation Entertainment during the first quarter valued at $272,000. Teacher Retirement System of Texas purchased a new stake in Live Nation Entertainment during the first quarter valued at $3,081,000. Personal CFO Solutions LLC purchased a new stake in Live Nation Entertainment during the first quarter valued at $277,000. Finally, Highland Capital Management LLC purchased a new stake in Live Nation Entertainment during the first quarter valued at $1,170,000. Hedge funds and other institutional investors own 74.52% of the company's stock.
Analysts Set New Price Targets
LYV has been the subject of a number of research reports. Rothschild & Co Redburn cut Live Nation Entertainment from a "buy" rating to a "neutral" rating and upped their price objective for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Benchmark upped their price objective on Live Nation Entertainment from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft cut their price target on Live Nation Entertainment from $175.00 to $173.00 and set a "buy" rating for the company in a report on Thursday. Finally, Oppenheimer boosted their price target on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $171.89.
Check Out Our Latest Stock Analysis on LYV
Live Nation Entertainment Stock Performance
NYSE LYV opened at $152.98 on Friday. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 66.23, a price-to-earnings-growth ratio of 12.20 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. The business has a 50-day moving average price of $161.87 and a 200-day moving average price of $149.48. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25.
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 analysts' consensus estimates of $1.08 by ($0.67). The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business's revenue was up 16.3% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Live Nation Entertainment 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.
Further Reading
Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV - Free Report).
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