Stratos Wealth Partners LTD. Increases Stock Holdings in Live Nation Entertainment, Inc. $LYV

Stratos Wealth Partners LTD. lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,440 shares of the company’s stock after buying an additional 354 shares during the period. Stratos Wealth Partners LTD.’s holdings in Live Nation Entertainment were worth $369,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LYV. Fifth Third Wealth Advisors LLC increased its position in 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 worth $428,000 after buying an additional 69 shares during the last quarter. Gilbert & Cook Inc. increased its position in Live Nation Entertainment by 1.4% in the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after buying an additional 75 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after buying an additional 97 shares during the last quarter. Trust Asset Management LLC increased its position in Live Nation Entertainment by 5.8% in the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after buying an additional 98 shares during the last quarter. Finally, Callan Family Office LLC increased its position in Live Nation Entertainment by 1.8% in the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of recent research reports. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Oppenheimer raised their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price target for the stock from $144.00 to $170.00 in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $171.89.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $152.98 on Friday. The firm has a market capitalization of $35.87 billion, a price-to-earnings ratio of 66.23, a P/E/G ratio of 12.20 and a beta of 1.40. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25. The stock has a fifty day moving average of $161.87 and a 200 day moving average of $149.48. 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 Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 3.88% and a return on equity of 105.85%. Live Nation Entertainment’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. On average, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal 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.