Quantbot Technologies LP Purchases New Stake in Live Nation Entertainment, Inc. $LYV

Quantbot Technologies LP purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 17,799 shares of the company’s stock, valued at approximately $3,259,000.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after acquiring an additional 367,624 shares during the last quarter. Independent Franchise Partners LLP grew its stake in shares of Live Nation Entertainment by 3.5% in the fourth quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after purchasing an additional 193,104 shares during the last quarter. Geode Capital Management LLC increased its holdings in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the period. Jericho Capital Asset Management L.P. raised its position in Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its holdings in Live Nation Entertainment by 0.8% in the 4th quarter. Cantillon Capital Management LLC now owns 2,797,205 shares of the company’s stock worth $398,602,000 after buying an additional 21,246 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.3%

NYSE:LYV opened at $182.28 on Monday. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The company’s 50-day simple moving average is $180.20 and its 200 day simple moving average is $166.47. The firm has a market capitalization of $42.95 billion, a P/E ratio of -161.31 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. Benchmark boosted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Rothschild & Co Redburn lifted their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Citizens Jmp boosted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Susquehanna raised their target price on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.