Jupiter Asset Management Ltd. Has $5.25 Million Stock Position in Live Nation Entertainment, Inc. $LYV

Jupiter Asset Management Ltd. cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 34,675 shares of the company’s stock after selling 8,391 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Live Nation Entertainment were worth $5,246,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Atria Wealth Solutions Inc. raised its stake in Live Nation Entertainment by 108.1% in the first quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company’s stock valued at $475,000 after purchasing an additional 1,888 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Live Nation Entertainment by 6,183.8% during the first quarter. Baird Financial Group Inc. now owns 167,464 shares of the company’s stock worth $21,867,000 after buying an additional 164,799 shares during the last quarter. Aberdeen Group plc increased its holdings in Live Nation Entertainment by 3.9% in the 2nd quarter. Aberdeen Group plc now owns 93,543 shares of the company’s stock worth $14,151,000 after purchasing an additional 3,542 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Live Nation Entertainment by 26.0% in the 1st quarter. Victory Capital Management Inc. now owns 144,811 shares of the company’s stock valued at $18,909,000 after buying an additional 29,855 shares during the last quarter. Finally, Malaga Cove Capital LLC acquired a new position in shares of Live Nation Entertainment during the first quarter worth $361,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LYV. Rothschild & Co Redburn cut Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their target price for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Evercore ISI reduced their price objective on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Guggenheim decreased their target price on shares of Live Nation Entertainment from $182.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Susquehanna raised their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Finally, Citigroup reduced their target price on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.84.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $136.90 on Friday. The firm has a market capitalization of $32.13 billion, a P/E ratio of 59.26, a PEG ratio of 12.85 and a beta of 1.37. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25. 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 business has a fifty day moving average price of $156.38 and a 200-day moving average price of $151.22.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the previous year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.