Live Nation Entertainment, Inc. $LYV Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Live Nation Entertainment by 83.5%, owning approximately 1.59 million shares valued at $207.49 million as of the latest SEC filing.
• Live Nation reported $7.01 billion in revenue for the last quarter, exceeding analyst estimates, although its EPS missed the consensus by ($0.67).
• The stock currently has a consensus rating of "Buy" with an average price target of $168.94 among analysts.

Price T Rowe Associates Inc. MD boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 83.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,588,983 shares of the company's stock after purchasing an additional 723,112 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.69% of Live Nation Entertainment worth $207,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in Live Nation Entertainment during the first quarter valued at about $30,000. Chilton Capital Management LLC purchased a new stake in Live Nation Entertainment during the first quarter valued at about $33,000. GW&K Investment Management LLC grew its position in Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in Live Nation Entertainment during the first quarter valued at about $42,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $165.6330 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $166.54. The business has a 50-day moving average of $151.31 and a 200-day moving average of $141.22. The company has a market capitalization of $38.84 billion, a price-to-earnings ratio of 71.70, a PEG ratio of 10.00 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $1.03 EPS. The company's revenue was up 16.3% compared to the same quarter last year. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the subject of a number of research reports. Moffett Nathanson initiated coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a "buy" rating and a $195.00 price target for the company. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Oppenheimer upped their target price 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. Roth Mkm decreased their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Wolfe Research upped their target price on 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of "Buy" and a consensus target price of $168.94.

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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