Meeder Advisory Services Inc. bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,805 shares of the company’s stock, valued at approximately $514,000.
Several other large investors have also modified their holdings of the business. Empowered Funds LLC increased its stake in shares of Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after buying an additional 109 shares in the last quarter. Cerity Partners LLC grew its holdings in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after buying an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Live Nation Entertainment by 15.9% during the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after buying an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Live Nation Entertainment by 344.3% during the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after buying an additional 1,711 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently issued reports on LYV shares. Oppenheimer set a $100.00 price objective on Live Nation Entertainment in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Guggenheim upped their target price on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citigroup lifted their price target on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Benchmark boosted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.
Live Nation Entertainment Stock Down 1.3%
Shares of Live Nation Entertainment stock opened at $181.79 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $189.24. The stock has a market cap of $42.84 billion, a price-to-earnings ratio of -160.88 and a beta of 1.12. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a fifty day moving average price of $180.00 and a 200 day moving average price of $166.20.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.
Live Nation Entertainment Company Profile
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.
Featured Articles
- Five stocks we like better than Live Nation Entertainment
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV – Free Report).
Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.
