Vanguard Group Inc. Raises Stock Position in Live Nation Entertainment, Inc. $LYV

Vanguard Group Inc. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,306,413 shares of the company’s stock after acquiring an additional 423,541 shares during the period. Vanguard Group Inc. owned about 8.66% of Live Nation Entertainment worth $3,071,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Atria Wealth Solutions Inc. raised its position in shares of Live Nation Entertainment by 108.1% during the first quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company’s stock valued at $475,000 after buying an additional 1,888 shares during the last quarter. Aberdeen Group plc grew its stake in Live Nation Entertainment by 3.9% during the second quarter. Aberdeen Group plc now owns 93,543 shares of the company’s stock valued at $14,151,000 after acquiring an additional 3,542 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Live Nation Entertainment by 6,183.8% in the 1st quarter. Baird Financial Group Inc. now owns 167,464 shares of the company’s stock valued at $21,867,000 after acquiring an additional 164,799 shares during the last quarter. Callan Family Office LLC boosted its holdings in shares of Live Nation Entertainment by 78.6% during the 2nd quarter. Callan Family Office LLC now owns 10,009 shares of the company’s stock valued at $1,514,000 after purchasing an additional 4,405 shares during the last quarter. Finally, Malaga Cove Capital LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at about $361,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup decreased their target price on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Live Nation Entertainment in a report on Monday. JPMorgan Chase & Co. cut their target price on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Susquehanna upped their price target on shares of 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, Guggenheim lowered their price objective on shares of Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating for the company in a research report on Tuesday. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $174.68.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $128.95 on Friday. The firm has a market capitalization of $30.27 billion, a PE ratio of 55.82, a PEG ratio of 12.85 and a beta of 1.37. The stock’s fifty day moving average is $152.59 and its 200 day moving average is $151.18. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 EPS. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment 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.