State of Wyoming Takes $1.32 Million Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Wyoming purchased a new $1.32 million stake in Live Nation Entertainment during the second quarter, while institutional investors collectively own 74.52% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $197.19; several firms recently raised their targets above $215.
• Live Nation beat quarterly expectations, reporting $1.05 in EPS on $7.67 billion in revenue, with revenue up 9.4% year over year. Shares opened at $188.37, near their 12-month high.

State of Wyoming purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,215 shares of the company's stock, valued at approximately $1,321,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Live Nation Entertainment in the fourth quarter worth $285,924,000. Sachem Head Capital Management LP bought a new position in shares of Live Nation Entertainment during the 4th quarter worth $173,380,000. Jericho Capital Asset Management L.P. increased its holdings in Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock worth $569,503,000 after acquiring an additional 1,099,350 shares during the last quarter. First Trust Advisors LP increased its holdings in Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company's stock worth $169,767,000 after acquiring an additional 1,033,289 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Live Nation Entertainment by 10.3% in the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock valued at $1,528,700,000 after acquiring an additional 1,001,905 shares during the period. Hedge funds and other institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Guggenheim boosted their price target on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, July 31st. BTIG Research restated a "buy" rating and set a $215.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein boosted their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.19.

Live Nation Entertainment Trading Up 1.2%

Shares of LYV opened at $188.37 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $189.25. The stock has a market cap of $44.39 billion, a PE ratio of -166.70 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The business's 50-day moving average price is $178.64 and its 200-day moving average price is $165.07.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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