Jacobs Levy Equity Management Inc. Has $45.61 Million Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Live Nation Entertainment by 64.9%, selling 645,350 shares and now holding 349,248 shares valued at approximately $45.6 million.
• Live Nation reported a quarterly earnings miss with an EPS of $0.41, falling short of the $1.08 expected by analysts, despite achieving revenue of $7.01 billion, exceeding estimates.
• Analysts maintain a consensus "Buy" rating for Live Nation with an average target price of $168.94, indicating continued optimism about the company's stock performance.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 64.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 349,248 shares of the company's stock after selling 645,350 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.15% of Live Nation Entertainment worth $45,605,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LYV. AQR Capital Management LLC increased its position in Live Nation Entertainment by 80.2% in the fourth quarter. AQR Capital Management LLC now owns 38,730 shares of the company's stock worth $5,016,000 after buying an additional 17,242 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Live Nation Entertainment by 17.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,021 shares of the company's stock worth $780,000 after buying an additional 899 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Live Nation Entertainment by 70.7% in the fourth quarter. Benjamin Edwards Inc. now owns 7,579 shares of the company's stock worth $981,000 after purchasing an additional 3,138 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter worth $345,000. Finally, Captrust Financial Advisors grew its stake in shares of Live Nation Entertainment by 229.1% in the fourth quarter. Captrust Financial Advisors now owns 31,742 shares of the company's stock worth $4,111,000 after purchasing an additional 22,096 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on LYV shares. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research note on Thursday, July 24th. Benchmark raised their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wolfe Research raised their target price 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. Guggenheim reaffirmed a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Moffett Nathanson initiated coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 target price for the company. Eighteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $170.72.

Live Nation Entertainment Trading Up 1.8%

Shares of Live Nation Entertainment stock traded up $3.07 during trading on Thursday, hitting $173.97. The stock had a trading volume of 1,151,118 shares, compared to its average volume of 2,428,476. The stock has a 50 day simple moving average of $156.04 and a 200 day simple moving average of $142.66. The company has a market capitalization of $40.79 billion, a PE ratio of 75.32, a P/E/G ratio of 11.49 and a beta of 1.42. 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, Inc. has a 1 year low of $96.75 and a 1 year high of $174.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 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 business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The company's revenue was up 16.3% compared to the same quarter last year. On average, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.