Daiichi Life Insurance Co. Ltd. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 3,419 shares of the company’s stock, valued at approximately $626,000.
Several other institutional investors and hedge funds have also made changes to their positions in LYV. Norges Bank purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $285,924,000. Sachem Head Capital Management LP purchased a new position in Live Nation Entertainment during the fourth quarter worth approximately $173,380,000. Jericho Capital Asset Management L.P. boosted its stake in Live Nation Entertainment by 37.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after buying an additional 1,099,350 shares during the last quarter. Findlay Park Partners LLP acquired a new position in Live Nation Entertainment during the second quarter worth $195,781,000. Finally, First Trust Advisors LP grew its holdings in Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after buying an additional 1,033,289 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Live Nation Entertainment Stock Performance
NYSE LYV opened at $184.37 on Tuesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $43.44 billion, a P/E ratio of -163.16 and a beta of 1.12. The stock has a 50-day moving average of $180.38 and a two-hundred day moving average of $166.77. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Rothschild & Co Redburn raised their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Susquehanna lifted their target price on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, Benchmark boosted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.19.
Check Out Our Latest Stock Report on Live Nation Entertainment
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.
Read More
- Five stocks we like better than Live Nation Entertainment
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
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.
