Northern Trust Corp Raises Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Northern Trust Corp raised its holdings in Live Nation Entertainment to approximately $189.87 million, owning about 0.63% of the company after increasing its shares by 0.6% in the first quarter.
• Analysts have upgraded their price targets for Live Nation Entertainment, with Wolfe Research and Oppenheimer raising their targets to $168.00 and $180.00 respectively, indicating a strong consensus rating of "Buy".
• Live Nation's recent quarterly earnings showed $7.01 billion in revenue, exceeding estimates, although it reported an EPS of $0.41, which was below analysts' expectations.

Northern Trust Corp grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,454,064 shares of the company's stock after acquiring an additional 8,562 shares during the period. Northern Trust Corp owned 0.63% of Live Nation Entertainment worth $189,872,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LYV. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $29,000. Wayfinding Financial LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $33,000. 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 acquiring an additional 283 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $42,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 0.2%

Shares of LYV traded up $0.3720 on Monday, reaching $166.0920. The company's stock had a trading volume of 1,403,865 shares, compared to its average volume of 2,484,225. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a twelve month low of $92.57 and a twelve month high of $166.57. The stock has a market capitalization of $38.94 billion, a PE ratio of 71.90, a PEG ratio of 10.00 and a beta of 1.46. The firm has a fifty day moving average of $151.31 and a 200-day moving average of $141.16.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm 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 quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

LYV has been the topic of a number of recent analyst reports. Benchmark lifted their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, Oppenheimer upped their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Eighteen investment analysts have rated the stock with a Buy rating, According to MarketBeat, Live Nation Entertainment has a consensus rating of "Buy" and a consensus price target of $168.94.

Live Nation Entertainment Company 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.