Live Nation Entertainment, Inc. $LYV Stock Holdings Decreased by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC has reduced its stake in Live Nation Entertainment by 61.3%, selling 2,766 shares during the first quarter, leaving them with a total of 1,749 shares.
• Several institutional investors, including Robeco Institutional Asset Management B.V. and Teacher Retirement System of Texas, have recently increased their holdings or initiated new positions in Live Nation Entertainment.
• Analysts have set new price targets for Live Nation Entertainment, with Wolfe Research raising its target to $168.00, while others, such as Morgan Stanley, set a target of $180.00, indicating strong confidence in the company’s growth prospects.

Quantitative Investment Management LLC lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 61.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,749 shares of the company's stock after selling 2,766 shares during the period. Quantitative Investment Management LLC's holdings in Live Nation Entertainment were worth $228,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Live Nation Entertainment by 3.7% during 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 during the period. Principal Financial Group Inc. boosted its position in shares of Live Nation Entertainment by 4.0% during the first quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after buying an additional 294,310 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after buying an additional 777,105 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 46.1% in 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 during the period. Finally, Groupama Asset Managment increased its position in Live Nation Entertainment by 0.3% in the 1st quarter. Groupama Asset Managment now owns 2,006,693 shares of the company's stock valued at $2,896,000 after acquiring an additional 6,693 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Guggenheim reissued a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective for the company. Wolfe Research raised 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 note on Tuesday, June 10th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Oppenheimer increased their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Eighteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Price Performance

LYV stock traded down $0.18 on Friday, hitting $166.45. 1,028,099 shares of the company's stock traded hands, compared to its average volume of 2,125,881. The stock has a market cap of $39.03 billion, a price-to-earnings ratio of 72.05, a P/E/G ratio of 10.04 and a beta of 1.46. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $167.22. 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 stock has a fifty day moving average of $153.29 and a 200-day moving average of $141.84.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company posted $1.03 EPS. Live Nation Entertainment's quarterly revenue was up 16.3% on a year-over-year basis. On average, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal 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.