Live Nation Entertainment, Inc. $LYV Position Raised by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Live Nation Entertainment, acquiring an additional 4,000 shares, bringing its total holdings to 62,700 shares valued at approximately $9.5 million.
• Live Nation reported quarterly earnings with EPS of $0.41, missing estimates significantly, despite a revenue of $7.01 billion, which surpassed consensus expectations.
• Several analysts have raised their price targets for Live Nation, with Citigroup recommending a buy and setting a target of $195, reflecting optimism about the company's growth potential.

Mn Services Vermogensbeheer B.V. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,700 shares of the company's stock after purchasing an additional 4,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Live Nation Entertainment were worth $9,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its holdings in shares of Live Nation Entertainment by 1.4% in the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock valued at $723,000 after purchasing an additional 75 shares during the period. Central Pacific Bank Trust Division lifted its stake in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company's stock worth $835,000 after acquiring an additional 97 shares during the last quarter. Trust Asset Management LLC lifted its stake in Live Nation Entertainment by 5.8% in the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock worth $233,000 after acquiring an additional 98 shares during the last quarter. Callan Family Office LLC raised its holdings in Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock worth $732,000 after purchasing an additional 98 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in shares of Live Nation Entertainment by 9.5% in the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company's stock valued at $150,000 after acquiring an additional 100 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LYV has been the topic of a number of recent analyst reports. 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 note on Tuesday, June 10th. Oppenheimer boosted their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Citigroup boosted their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Moffett Nathanson initiated 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 target on the stock. Finally, Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and upped their price objective for the company from $144.00 to $170.00 in a research note on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.68.

Live Nation Entertainment Stock Down 0.6%

NYSE:LYV traded down $0.99 during trading hours on Friday, hitting $163.69. The stock had a trading volume of 3,822,583 shares, compared to its average volume of 2,047,208. The company has a market cap of $38.38 billion, a PE ratio of 70.86, a price-to-earnings-growth ratio of 11.04 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 business has a 50 day simple moving average of $159.36 and a two-hundred day simple moving average of $143.98. Live Nation Entertainment, Inc. has a 1-year low of $102.72 and a 1-year high of $175.25.

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 the consensus estimate of $1.08 by ($0.67). The business had revenue of $7.01 billion for 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 business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.