V Square Quantitative Management LLC Sells 1,576 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• V Square Quantitative Management LLC has reduced its stake in Live Nation Entertainment by 33.4%, selling 1,576 shares and now holding 3,140 shares valued at approximately $475,000.
• Various institutional investors have shown significant interest in Live Nation, with Nuveen LLC acquiring a new stake worth about $201.5 million and Massachusetts Financial Services increasing its stake by 46.1%.
• Wall Street analysts have a generally positive outlook on Live Nation, with numerous firms adjusting their price targets upward, including Citigroup raising its target from $165.00 to $195.00 and Benchmark increasing it from $180.00 to $190.00.

V Square Quantitative Management LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 33.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,140 shares of the company's stock after selling 1,576 shares during the period. V Square Quantitative Management LLC's holdings in Live Nation Entertainment were worth $475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC purchased a new stake in Live Nation Entertainment in the 1st quarter worth approximately $201,501,000. Independent Franchise Partners LLP lifted its stake in Live Nation Entertainment by 21.4% in the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after purchasing an additional 1,004,574 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after purchasing an additional 884,745 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Live Nation Entertainment in the 2nd quarter worth approximately $128,704,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Live Nation Entertainment by 83.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company's stock worth $207,490,000 after purchasing an additional 723,112 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYV. Benchmark increased their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and raised their price objective for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Wolfe Research raised their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective on the stock. Finally, Citigroup raised their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Eighteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $171.21.

Live Nation Entertainment Price Performance

LYV stock opened at $163.43 on Wednesday. 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 52 week low of $107.65 and a 52 week high of $175.25. The firm's fifty day moving average is $161.33 and its 200 day moving average is $145.95. The firm has a market cap of $38.32 billion, a P/E ratio of 70.75, a P/E/G ratio of 11.09 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business posted $1.03 EPS. Live Nation Entertainment's revenue for the quarter was up 16.3% on a year-over-year basis. Research analysts predict 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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