Live Nation Entertainment, Inc. (NYSE:LYV) Stock Position Lifted by Rathbones Group PLC

Key Points

• Rathbones Group PLC significantly increased its stake in Live Nation Entertainment by 1,474.1%, acquiring an additional 63,753 shares, bringing its total holdings to 68,078 shares valued at approximately $8.89 million.
• Institutional investors currently own 74.52% of Live Nation’s stock, and several hedge funds, including Vanguard Group and Massachusetts Financial Services, have also increased their positions in the company.
• Live Nation's recent earnings report for the quarter showed a revenue of $7.01 billion, exceeding analyst estimates, although its EPS of $0.41 fell short of the consensus estimate of $1.08.

Rathbones Group PLC grew its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1,474.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,078 shares of the company's stock after acquiring an additional 63,753 shares during the quarter. Rathbones Group PLC's holdings in Live Nation Entertainment were worth $8,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in Live Nation Entertainment in the first quarter valued at $30,000. Chilton Capital Management LLC acquired a new position in Live Nation Entertainment in the first quarter valued at $33,000. N.E.W. Advisory Services LLC acquired a new position in Live Nation Entertainment in the first quarter valued at $42,000. Finally, GW&K Investment Management LLC increased its stake in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after purchasing an additional 283 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.6%

LYV traded down $1.01 on Friday, reaching $160.59. The company's stock had a trading volume of 2,891,877 shares, compared to its average volume of 2,156,583. The stock has a market cap of $37.65 billion, a price-to-earnings ratio of 69.52, a price-to-earnings-growth ratio of 9.71 and a beta of 1.46. Live Nation Entertainment, Inc. has a 1 year low of $92.57 and a 1 year high of $162.95. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The business's 50 day moving average is $149.21 and its 200 day moving average is $140.64.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly 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). The business had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on LYV shares. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research note on Thursday, July 24th. Oppenheimer upped their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $167.41.

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.