TD Asset Management Inc Grows Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• TD Asset Management Inc increased its holdings in Live Nation Entertainment by 18.1% during the second quarter, acquiring an additional 52,497 shares and bringing their total ownership to approximately $51.8 million.
• Goldman Sachs raised its price target on Live Nation Entertainment from $168.00 to $170.00, maintaining a "buy" rating, while other analysts also issued optimistic targets, resulting in a consensus average price target of $171.42.
• Live Nation Entertainment reported a 16.3% increase in revenue year-over-year, totaling $7.01 billion for the last quarter, although their earnings per share missed expectations at $0.41 compared to the consensus of $1.08.

TD Asset Management Inc increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 18.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,646 shares of the company's stock after buying an additional 52,497 shares during the period. TD Asset Management Inc owned about 0.15% of Live Nation Entertainment worth $51,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Live Nation Entertainment during the 1st quarter worth $30,000. Chilton Capital Management LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $33,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $42,000. GW&K Investment Management LLC grew its position in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after buying an additional 283 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Live Nation Entertainment by 94.2% during the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a report on Thursday, July 24th. Moffett Nathanson assumed coverage on Live Nation Entertainment in a report on Monday, August 18th. They set a "buy" rating and a $195.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Finally, Oppenheimer increased their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a report 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. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average price target of $171.42.

Live Nation Entertainment Stock Up 1.6%

Live Nation Entertainment stock opened at $155.35 on Thursday. The company has a 50-day simple moving average of $162.13 and a 200-day simple moving average of $148.10. The firm has a market capitalization of $36.42 billion, a P/E ratio of 67.25, a P/E/G ratio of 11.65 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results 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). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $1.03 EPS. The company's revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts expect 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.

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