DigitalBridge Group Inc. Buys 6,328 Shares of Live Nation Entertainment, Inc. $LYV

DigitalBridge Group Inc. boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,554 shares of the company’s stock after purchasing an additional 6,328 shares during the quarter. Live Nation Entertainment accounts for approximately 3.7% of DigitalBridge Group Inc.’s holdings, making the stock its 7th biggest position. DigitalBridge Group Inc. owned 0.11% of Live Nation Entertainment worth $37,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LYV. Fifth Third Wealth Advisors LLC lifted its stake in shares of Live Nation Entertainment by 2.5% in the second quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock valued at $428,000 after buying an additional 69 shares during the period. Central Pacific Bank Trust Division raised its holdings in Live Nation Entertainment by 1.8% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after acquiring an additional 97 shares in the last quarter. Trust Asset Management LLC lifted its position in shares of Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after acquiring an additional 98 shares during the period. Callan Family Office LLC grew its holdings in shares of Live Nation Entertainment by 1.8% during the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after purchasing an additional 98 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares during the period. Institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LYV. Morgan Stanley decreased their price target on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their target price for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Citigroup dropped their price target 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. Evercore ISI decreased their price objective on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.50.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $136.05 on Thursday. The stock has a market capitalization of $31.94 billion, a P/E ratio of 98.59 and a beta of 1.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The firm has a 50 day moving average of $145.97 and a 200-day moving average of $150.71.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results 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). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. During the same period in the prior year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.