SteelPeak Wealth LLC Acquires Shares of 17,729 Live Nation Entertainment, Inc. $LYV

Key Points

• SteelPeak Wealth LLC acquired 17,729 shares of Live Nation Entertainment, valued at approximately $2.68 million, in the second quarter of the year.
• Live Nation reported earnings of $0.41 per share, significantly missing the consensus estimate of $1.08, despite achieving revenue of $7.01 billion for the quarter.
• Analysts recently adjusted price targets for Live Nation, with Citigroup raising its target from $165 to $195, signaling a positive outlook for the company's stock.

SteelPeak Wealth LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 17,729 shares of the company's stock, valued at approximately $2,682,000.

Other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Live Nation Entertainment during the 1st quarter valued at approximately $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the first quarter valued at $33,000. N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment in the first quarter valued at $42,000. GW&K Investment Management LLC grew its holdings in shares of 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 purchasing an additional 283 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after purchasing an additional 196 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Down 0.7%

NYSE LYV opened at $154.92 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a fifty day moving average of $161.73 and a two-hundred day moving average of $147.16. The firm has a market capitalization of $36.32 billion, a price-to-earnings ratio of 67.07, a PEG ratio of 10.60 and a beta of 1.40. Live Nation Entertainment, Inc. has a 52 week low of $110.57 and a 52 week high of $175.25.

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

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. Citigroup raised their target price on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Rothschild Redb lowered shares of Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. 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 report on Tuesday, June 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Live Nation Entertainment in a report on Saturday, September 27th. Finally, Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $171.42.

Live Nation Entertainment 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.