Live Nation Entertainment, Inc. $LYV Shares Bought by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,996 shares of the company’s stock after purchasing an additional 2,187 shares during the period. Pittenger & Anderson Inc.’s holdings in Live Nation Entertainment were worth $7,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $1,153,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $272,000. Teacher Retirement System of Texas purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $3,081,000. Personal CFO Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $277,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $1,170,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $156.68 on Tuesday. Live Nation Entertainment, Inc. has a 1-year low of $112.88 and a 1-year high of $175.25. The business has a 50-day moving average of $162.28 and a 200-day moving average of $148.91. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 12.11 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share 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 company 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 company earned $1.03 EPS. Live Nation Entertainment’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LYV. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research report on Thursday, July 24th. Rothschild & Co Redburn downgraded 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 research report on Tuesday, September 16th. Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a “buy” rating and a $195.00 price target for the company. Finally, Citigroup boosted their price target on 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.42.

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.