Avanza Fonder AB acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,652 shares of the company's stock, valued at approximately $1,638,000.
Other institutional investors have also recently modified their holdings of the company. Select Equity Group L.P. raised its position in Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company's stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock valued at $787,950,000 after purchasing an additional 87,032 shares during the period. Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock worth $410,664,000 after buying an additional 321,832 shares in the last quarter. D1 Capital Partners L.P. grew its position in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company's stock valued at $332,171,000 after buying an additional 1,093,000 shares during the period. Finally, Vulcan Value Partners LLC raised its position in shares of Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company's stock worth $252,663,000 after acquiring an additional 855,197 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
LYV has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Roth Mkm raised their price target on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Guggenheim lifted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Citigroup raised their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $145.40.
Read Our Latest Stock Analysis on LYV
Live Nation Entertainment Trading Up 1.6 %
Shares of Live Nation Entertainment stock traded up $2.15 during mid-day trading on Friday, hitting $135.71. The stock had a trading volume of 1,220,340 shares, compared to its average volume of 1,390,037. The firm has a market cap of $31.53 billion, a P/E ratio of 144.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50-day moving average of $133.51 and a two-hundred day moving average of $113.57. Live Nation Entertainment, Inc. has a 12-month low of $86.67 and a 12-month high of $141.18.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to analysts' expectations of $7.75 billion. During the same quarter last year, the firm earned $1.78 earnings per share. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.
Live Nation Entertainment Company Profile
(
Free Report)
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.
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