Quadcap Wealth Management LLC Buys New Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Quadcap Wealth Management LLC acquired 3,467 shares of Live Nation Entertainment, valued at approximately $453,000, marking a new position in the company's stock.
• Analysts have set varying price targets for Live Nation Entertainment, with estimates ranging from $164.00 to $195.00, and 18 analysts currently rate the stock as a "Buy."
• Despite reporting lower-than-expected earnings per share of $0.41 for the last quarter, Live Nation's revenue of $7.01 billion exceeded analyst estimates, indicating a 16.3% year-over-year increase.

Quadcap Wealth Management LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,467 shares of the company's stock, valued at approximately $453,000.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock valued at $2,596,305,000 after purchasing an additional 713,020 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Live Nation Entertainment by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock valued at $991,952,000 after acquiring an additional 294,310 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 21.4% during the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock valued at $744,118,000 after acquiring an additional 1,004,574 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in shares of Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after acquiring an additional 777,105 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Live Nation Entertainment by 46.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after acquiring an additional 884,745 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of several recent research reports. Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Moffett Nathanson initiated coverage on Live Nation Entertainment in a report on Monday, August 18th. They set a "buy" rating and a $195.00 price objective on the stock. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective on the stock. Wolfe Research raised their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Guggenheim reissued a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Eighteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Trading Down 0.1%

Shares of NYSE:LYV traded down $0.18 during midday trading on Friday, reaching $166.45. The company's stock had a trading volume of 1,028,099 shares, compared to its average volume of 2,125,881. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 72.05, a PEG ratio of 10.04 and a beta of 1.46. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50 day moving average price of $153.29 and a two-hundred day moving average price of $141.84. Live Nation Entertainment, Inc. has a fifty-two week low of $92.57 and a fifty-two week high of $167.22.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (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 analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share 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.