United Services Automobile Association Makes New $404,000 Investment in Live Nation Entertainment, Inc. $LYV

Key Points

• United Services Automobile Association has acquired a new position in Live Nation Entertainment, purchasing 3,234 shares valued at approximately $404,000.
• Live Nation reported a net margin of 3.88% and a 16.3% year-over-year revenue increase, with total revenue of $7.01 billion for the recent quarter.
• Analysts maintain a positive outlook on Live Nation, with eighteen rating the stock as a Buy and an average price target of $170.72.

United Services Automobile Association acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,234 shares of the company's stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYV. Robeco Institutional Asset Management B.V. purchased a new stake in Live Nation Entertainment in the 1st quarter worth $1,153,000. Praxis Investment Management Inc. increased its stake in Live Nation Entertainment by 45.2% in 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 in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Live Nation Entertainment in the 1st quarter worth $272,000. Teacher Retirement System of Texas purchased a new stake in Live Nation Entertainment in the 1st quarter worth $3,081,000. Finally, Personal CFO Solutions LLC purchased a new stake in Live Nation Entertainment in the 1st quarter worth $277,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LYV shares. Guggenheim reiterated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Benchmark increased their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They set a "buy" rating and a $195.00 price objective for the company. Citigroup increased their price objective 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. 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $170.72.

Live Nation Entertainment Trading Down 0.2%

LYV traded down $0.31 on Friday, hitting $173.75. The company had a trading volume of 1,408,354 shares, compared to its average volume of 1,666,289. The company has a market cap of $40.74 billion, a PE ratio of 75.22, a PEG ratio of 11.72 and a beta of 1.42. Live Nation Entertainment, Inc. has a 12-month low of $97.40 and a 12-month high of $175.25. 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 business's fifty day simple moving average is $157.02 and its 200 day simple moving average is $143.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released 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). The company had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The company's revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.