Empowered Funds LLC Purchases 42,943 Shares of Live Nation Entertainment, Inc. $LYV

Empowered Funds LLC grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 247.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,319 shares of the company’s stock after buying an additional 42,943 shares during the quarter. Empowered Funds LLC’s holdings in Live Nation Entertainment were worth $9,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of LYV. Clearstead Trust LLC grew its stake in Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares during the period. GW&K Investment Management LLC grew its position in Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after buying an additional 283 shares during the period. N.E.W. Advisory Services LLC bought a new stake in Live Nation Entertainment in the first quarter worth about $42,000. TD Private Client Wealth LLC purchased a new position in Live Nation Entertainment in the second quarter valued at about $62,000. Finally, Allworth Financial LP grew its position in shares of Live Nation Entertainment by 48.8% during the 2nd quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after acquiring an additional 147 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYV has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, November 4th. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Oppenheimer boosted their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Finally, Citigroup cut their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.68.

Live Nation Entertainment Stock Down 1.1%

LYV stock opened at $129.91 on Thursday. The stock has a 50-day simple moving average of $153.49 and a two-hundred day simple moving average of $151.34. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The firm has a market capitalization of $30.49 billion, a PE ratio of 56.24, a PEG ratio of 12.85 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

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

Live Nation Entertainment Company Profile

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.