QRG Capital Management Inc. Acquires 1,747 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

QRG Capital Management Inc. raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,990 shares of the company's stock after purchasing an additional 1,747 shares during the quarter. QRG Capital Management Inc.'s holdings in Live Nation Entertainment were worth $2,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Amundi grew its stake in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after acquiring an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC grew its position in Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after purchasing an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Live Nation Entertainment in the 4th quarter valued at about $226,000. Aviva PLC lifted its position in shares of Live Nation Entertainment by 1,524.1% during the 4th quarter. Aviva PLC now owns 97,057 shares of the company's stock worth $12,569,000 after buying an additional 91,081 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Live Nation Entertainment by 26.1% in the first quarter. Exchange Traded Concepts LLC now owns 19,084 shares of the company's stock valued at $2,492,000 after acquiring an additional 3,949 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Guggenheim reiterated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Rosenblatt Securities reduced their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective on the stock. Finally, Wolfe Research increased their target price 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. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $165.24.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president now directly owns 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.01% of the stock is currently owned by company insiders.

Live Nation Entertainment Trading Up 1.4%

Shares of Live Nation Entertainment stock traded up $2.01 during trading on Monday, reaching $150.88. The company's stock had a trading volume of 2,525,299 shares, compared to its average volume of 2,351,461. Live Nation Entertainment, Inc. has a 52-week low of $87.33 and a 52-week high of $157.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. The firm's 50-day moving average is $138.90 and its two-hundred day moving average is $136.21. The company has a market cap of $34.97 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 5.90 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same period last year, the company posted $0.60 EPS. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.