Vanguard Group Inc. lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,882,872 shares of the company's stock after acquiring an additional 713,020 shares during the quarter. Vanguard Group Inc. owned 8.58% of Live Nation Entertainment worth $2,596,305,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $33,000. GW&K Investment Management LLC lifted its holdings in shares of Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after acquiring an additional 283 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $42,000. 74.52% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on LYV shares. Wolfe Research lifted their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Rosenblatt Securities decreased their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.94.
Read Our Latest Stock Analysis on LYV
Insider Transactions at Live Nation Entertainment
In related news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president owned 189,456 shares in the company, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.01% of the stock is currently owned by insiders.
Live Nation Entertainment Stock Performance
Shares of LYV stock opened at $153.24 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $90.69 and a 12 month high of $157.75. The stock has a market cap of $35.52 billion, a PE ratio of 66.34, a price-to-earnings-growth ratio of 4.90 and a beta of 1.46. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The company's fifty day moving average price is $147.40 and its 200-day moving average price is $140.01.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 108.31%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm posted $1.03 EPS. The business's quarterly revenue was up 16.3% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
About Live Nation Entertainment
(
Free Report)
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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