Invesco LLC Raises Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Invesco LLC grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 156.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,547 shares of the company's stock after acquiring an additional 2,774 shares during the quarter. Invesco LLC's holdings in Live Nation Entertainment were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Amundi raised its holdings in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after buying an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC increased its position in shares of Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after acquiring an additional 33,980 shares in the last quarter. Praxis Investment Management Inc. lifted its position in Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after acquiring an additional 1,730 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in Live Nation Entertainment in the 4th quarter valued at about $226,000. Finally, Aviva PLC boosted its stake in Live Nation Entertainment by 1,524.1% during the 4th quarter. Aviva PLC now owns 97,057 shares of the company's stock valued at $12,569,000 after purchasing an additional 91,081 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president now owns 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LYV shares. Roth Mkm dropped their target price 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. Guggenheim reissued a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Wolfe Research increased their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Rosenblatt Securities dropped their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.24.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded down $1.52 during trading on Wednesday, hitting $146.26. The stock had a trading volume of 1,251,822 shares, compared to its average volume of 2,346,713. The stock's 50 day moving average is $139.28 and its two-hundred day moving average is $136.29. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75. The stock has a market cap of $33.90 billion, a price-to-earnings ratio of 49.92, a price-to-earnings-growth ratio of 5.97 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The firm had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm's quarterly revenue was down 11.0% on a year-over-year basis. As a group, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS 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.