Live Nation Entertainment, Inc. $LYV Shares Acquired by Groupama Asset Managment

Key Points

• Groupama Asset Management increased its holdings in Live Nation Entertainment by 0.3%, owning approximately 2,006,693 shares valued at about $2.90 million as of the latest SEC filing.
• Live Nation reported $7.01 billion in revenue for the last quarter, exceeding analyst expectations, despite a miss on earnings per share with $0.41 compared to the consensus estimate of $1.08.
• Several analysts have a buy rating for Live Nation, with target prices ranging from $165.00 to $195.00, indicating positive sentiment towards the company's prospects.

Groupama Asset Managment increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,006,693 shares of the company's stock after acquiring an additional 6,693 shares during the period. Groupama Asset Managment owned approximately 0.87% of Live Nation Entertainment worth $2,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its stake in shares of Live Nation Entertainment by 1.4% in the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock valued at $723,000 after acquiring an additional 75 shares in the last quarter. Trust Asset Management LLC raised its stake in shares of Live Nation Entertainment by 5.8% in the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock valued at $233,000 after acquiring an additional 98 shares in the last quarter. Callan Family Office LLC raised its stake in Live Nation Entertainment by 1.8% in the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock valued at $732,000 after buying an additional 98 shares in the last quarter. Utah Retirement Systems raised its stake in Live Nation Entertainment by 0.4% in the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock valued at $3,392,000 after buying an additional 100 shares in the last quarter. Finally, HM Payson & Co. raised its stake in Live Nation Entertainment by 9.5% in the first quarter. HM Payson & Co. now owns 1,150 shares of the company's stock valued at $150,000 after buying an additional 100 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV traded up $3.1630 during midday trading on Friday, reaching $165.6330. 1,914,577 shares of the company were exchanged, compared to its average volume of 2,209,987. 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, Inc. has a 1 year low of $92.57 and a 1 year high of $166.54. The stock has a fifty day simple moving average of $151.31 and a 200 day simple moving average of $141.27. The stock has a market cap of $38.84 billion, a P/E ratio of 71.70, a PEG ratio of 9.80 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly 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 company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. During the same period in the prior year, the business earned $1.03 EPS. The business's quarterly revenue was up 16.3% compared to the same quarter last year. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Moffett Nathanson started coverage on Live Nation Entertainment in a research note on Monday. They issued a "buy" rating and a $195.00 price target on the stock. Roth Mkm dropped their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities dropped their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Finally, Sanford C. Bernstein started coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective on the stock. Eighteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, Live Nation Entertainment has a consensus rating of "Buy" and a consensus target price of $168.94.

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.