Tpg Gp A LLC Reduces Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Tpg Gp A LLC reduced its stock holdings in Live Nation Entertainment by 41.0%, now owning 413,744 shares valued at approximately $54 million.
• Major hedge funds, including Vanguard Group and Massachusetts Financial Services, have increased their stakes in Live Nation, indicating a stronger interest from institutional investors.
• Analysts have issued positive forecasts for Live Nation, with price targets ranging from $165 to $185 and a consensus rating of "Buy."

TPG GP A LLC lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 41.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,744 shares of the company's stock after selling 287,127 shares during the quarter. Live Nation Entertainment comprises about 1.1% of TPG GP A LLC's holdings, making the stock its 21st biggest holding. TPG GP A LLC owned 0.18% of Live Nation Entertainment worth $54,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of LYV. Robeco Institutional Asset Management B.V. purchased a new stake in Live Nation Entertainment in the 1st quarter valued at $1,153,000. Praxis Investment Management Inc. raised its position in Live Nation Entertainment by 45.2% during the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after buying an additional 1,730 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Live Nation Entertainment during the 1st quarter worth $272,000. Teacher Retirement System of Texas purchased a new position in Live Nation Entertainment during the 1st quarter worth $3,081,000. Finally, Personal CFO Solutions LLC purchased a new position in Live Nation Entertainment during the 1st quarter worth $277,000. 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 recently issued reports on LYV shares. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target for the company. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Guggenheim restated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Benchmark raised their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, 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. Eighteen analysts have rated the stock with a Buy rating, According to MarketBeat, Live Nation Entertainment has a consensus rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Trading Up 0.5%

Shares of LYV traded up $0.74 during mid-day trading on Thursday, hitting $162.71. The company had a trading volume of 2,449,211 shares, compared to its average volume of 2,448,035. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $167.94. The business's 50-day simple moving average is $154.26 and its 200-day simple moving average is $142.16. 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 stock has a market cap of $38.15 billion, a PE ratio of 70.44, a P/E/G ratio of 10.04 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 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 business had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The company's quarterly revenue was up 16.3% on a year-over-year basis. Sell-side 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.