Jones Financial Companies Lllp Has $12.24 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Live Nation Entertainment by 7,299.2%, now holding 93,748 shares valued at approximately $12.24 million.
• Live Nation's earnings report showed a loss of $0.67 per share against expectations, despite revenue growth to $7.01 billion for the quarter, surpassing analyst forecasts.
• The stock has received multiple buy ratings from analysts, with an average target price of $168.94, indicating positive sentiment in the market.

Jones Financial Companies Lllp raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 7,299.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,748 shares of the company's stock after purchasing an additional 92,481 shares during the quarter. Jones Financial Companies Lllp's holdings in Live Nation Entertainment were worth $12,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. acquired a new stake in Live Nation Entertainment in the 4th quarter valued at $345,000. Cetera Investment Advisers boosted its stake in shares of Live Nation Entertainment by 14.8% in the 4th quarter. Cetera Investment Advisers now owns 8,790 shares of the company's stock valued at $1,138,000 after purchasing an additional 1,132 shares in the last quarter. Fiduciary Trust Co bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $242,000. Ethic Inc. increased its position in shares of Live Nation Entertainment by 15.2% during the 4th quarter. Ethic Inc. now owns 23,445 shares of the company's stock worth $3,036,000 after purchasing an additional 3,085 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Live Nation Entertainment by 14.8% during the 4th quarter. Janus Henderson Group PLC now owns 12,179 shares of the company's stock valued at $1,577,000 after purchasing an additional 1,570 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $169.21 on Tuesday. The business's 50-day simple moving average is $155.19 and its 200 day simple moving average is $142.27. 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 stock has a market cap of $39.68 billion, a price-to-earnings ratio of 73.25, a P/E/G ratio of 11.02 and a beta of 1.42. Live Nation Entertainment, Inc. has a 12-month low of $93.32 and a 12-month high of $169.66.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released 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). The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 price objective on the stock. Oppenheimer raised 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. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research note on Thursday, July 24th. Guggenheim restated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Eighteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Live Nation Entertainment presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.