Axxcess Wealth Management LLC Takes $206,000 Position in Live Nation Entertainment, Inc. $LYV

Axxcess Wealth Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,362 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in Live Nation Entertainment during the 1st quarter worth about $1,153,000. Praxis Investment Management Inc. boosted its position in shares of Live Nation Entertainment by 45.2% during the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock worth $726,000 after buying an additional 1,730 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Live Nation Entertainment during the first quarter worth about $272,000. Teacher Retirement System of Texas acquired a new stake in Live Nation Entertainment in the 1st quarter valued at approximately $3,081,000. Finally, Personal CFO Solutions LLC bought a new stake in Live Nation Entertainment in the 1st quarter valued at approximately $277,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 2.3%

Live Nation Entertainment stock opened at $155.15 on Monday. 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’s 50-day moving average is $162.24 and its 200-day moving average is $148.66. The firm has a market capitalization of $36.38 billion, a PE ratio of 67.17, a P/E/G ratio of 12.11 and a beta of 1.40. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Citigroup raised their target price on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Moffett Nathanson started coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target 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.