Live Nation Entertainment, Inc. $LYV Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Live Nation Entertainment by 15.7%, owning 549,031 shares valued at approximately $82.29 million after purchasing 74,407 additional shares.
• Analysts have given Live Nation Entertainment a consensus rating of "Moderate Buy" with an average target price of $171.42, reflecting optimism among several research firms.
• Live Nation reported earnings of $0.41 per share for the last quarter, missing estimates by $0.67 but achieving revenue of $7.01 billion, which exceeded expectations.

Allspring Global Investments Holdings LLC grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 15.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 549,031 shares of the company's stock after purchasing an additional 74,407 shares during the period. Allspring Global Investments Holdings LLC owned 0.24% of Live Nation Entertainment worth $82,289,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Live Nation Entertainment in the first quarter valued at approximately $201,501,000. Independent Franchise Partners LLP grew its stake in Live Nation Entertainment by 21.4% during the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after buying an additional 1,004,574 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Live Nation Entertainment by 46.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after acquiring an additional 884,745 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Live Nation Entertainment during the second quarter worth about $128,704,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Live Nation Entertainment by 83.5% in the 1st 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 own 74.52% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on LYV shares. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Citigroup raised their target price on Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Oppenheimer boosted their price target on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Finally, Benchmark upped their price objective on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Eighteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $171.42.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $153.65 on Tuesday. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. 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 firm has a 50-day moving average of $161.96 and a two-hundred day moving average of $148.01. The company has a market capitalization of $36.03 billion, a price-to-earnings ratio of 66.52, a PEG ratio of 10.40 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal 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.

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