Voya Investment Management LLC Grows Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Voya Investment Management LLC increased its stake in Live Nation Entertainment, Inc. by 7.4%, owning approximately 191,031 shares valued at $24.9 million.
• Wall Street analysts have set a range of target prices for Live Nation shares, with Guggenheim and Morgan Stanley indicating targets of $170.00 and $180.00, respectively.
• Despite a revenue increase of 16.3% year-over-year, Live Nation reported earnings per share of $0.41, missing consensus estimates by $0.67.

Voya Investment Management LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,031 shares of the company's stock after purchasing an additional 13,128 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of Live Nation Entertainment worth $24,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYV. Cetera Investment Advisers lifted its stake in shares of Live Nation Entertainment by 14.8% in the 4th quarter. Cetera Investment Advisers now owns 8,790 shares of the company's stock valued at $1,138,000 after purchasing an additional 1,132 shares during the period. Janus Henderson Group PLC increased its position in Live Nation Entertainment by 14.8% during the 4th quarter. Janus Henderson Group PLC now owns 12,179 shares of the company's stock valued at $1,577,000 after buying an additional 1,570 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in Live Nation Entertainment by 20.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 6,711 shares of the company's stock valued at $869,000 after buying an additional 1,121 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Live Nation Entertainment by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock valued at $2,559,000 after buying an additional 143 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Live Nation Entertainment by 3.9% during the 4th quarter. Quantinno Capital Management LP now owns 29,518 shares of the company's stock valued at $3,823,000 after buying an additional 1,121 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LYV shares. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a report on Thursday, July 24th. Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Sanford C. Bernstein started coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Finally, Moffett Nathanson started coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price for the company. Eighteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Live Nation Entertainment has an average rating of "Buy" and a consensus price target of $170.72.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $173.75 on Monday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a one year low of $97.40 and a one year high of $175.25. The firm has a market capitalization of $40.74 billion, a P/E ratio of 75.22, a PEG ratio of 11.72 and a beta of 1.42. The business has a fifty day moving average of $157.02 and a 200 day moving average of $143.02.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data 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 return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business's revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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.

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