Live Nation Entertainment, Inc. $LYV Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Live Nation Entertainment by 1.8% in Q2, owning 89,151 shares worth $13.5 million by the end of the quarter.
• Live Nation's consensus rating is "Moderate Buy" from analysts, with a target price of $171.21, reflecting strong investor confidence in the company's growth potential.
• Despite reporting a missed EPS of $0.41 compared to expectations of $1.08, Live Nation's revenue for the quarter reached $7.01 billion, exceeding analyst forecasts.

Public Employees Retirement System of Ohio grew its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,151 shares of the company's stock after acquiring an additional 1,588 shares during the period. Public Employees Retirement System of Ohio's holdings in Live Nation Entertainment were worth $13,487,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LYV. Nuveen LLC acquired a new position in shares of Live Nation Entertainment in the first quarter worth about $201,501,000. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 21.4% in the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after acquiring an additional 1,004,574 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Live Nation Entertainment by 46.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after acquiring an additional 884,745 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Live Nation Entertainment in the second quarter worth about $128,704,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Live Nation Entertainment by 83.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company's stock worth $207,490,000 after acquiring an additional 723,112 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LYV. Benchmark boosted their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday. 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 target price for the company. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Wolfe Research boosted their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Eighteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $171.21.

Live Nation Entertainment Stock Up 0.0%

Shares of NYSE LYV opened at $162.02 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $107.14 and a 12-month high of $175.25. The stock has a market cap of $37.99 billion, a PE ratio of 70.14, a P/E/G ratio of 10.93 and a beta of 1.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a 50-day moving average of $160.79 and a 200 day moving average of $145.15.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business 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 company posted $1.03 EPS. The firm's revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts predict 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.

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