Fifth Third Wealth Advisors LLC Purchases 69 Shares of Live Nation Entertainment, Inc. $LYV

Fifth Third Wealth Advisors LLC boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,828 shares of the company’s stock after buying an additional 69 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Live Nation Entertainment were worth $428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IRON Financial LLC bought a new stake in Live Nation Entertainment during the 2nd quarter valued at about $210,000. Aberdeen Group plc lifted its holdings in Live Nation Entertainment by 3.9% during the 2nd quarter. Aberdeen Group plc now owns 93,543 shares of the company’s stock valued at $14,151,000 after buying an additional 3,542 shares in the last quarter. Callan Family Office LLC lifted its holdings in Live Nation Entertainment by 78.6% during the 2nd quarter. Callan Family Office LLC now owns 10,009 shares of the company’s stock valued at $1,514,000 after buying an additional 4,405 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in Live Nation Entertainment by 4.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 7,692 shares of the company’s stock valued at $1,164,000 after buying an additional 311 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Live Nation Entertainment during the 2nd quarter valued at about $905,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.2%

Shares of Live Nation Entertainment stock opened at $153.07 on Monday. The firm’s 50 day moving average price is $161.92 and its 200-day moving average price is $147.81. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 52-week low of $112.79 and a 52-week high of $175.25. The company has a market cap of $35.89 billion, a P/E ratio of 66.26, a PEG ratio of 10.40 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $6.93 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

LYV has been the subject of a number of research analyst reports. 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. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Citigroup boosted their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a report on Thursday, July 24th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.42.

Live Nation Entertainment Company 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.