Westfield Capital Management Co. LP Has $102.53 Million Stake in Live Nation Entertainment, Inc. $LYV

Westfield Capital Management Co. LP raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 110.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 677,730 shares of the company’s stock after acquiring an additional 355,279 shares during the period. Westfield Capital Management Co. LP owned approximately 0.29% of Live Nation Entertainment worth $102,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Live Nation Entertainment in the 1st quarter valued at approximately $201,501,000. Independent Franchise Partners LLP boosted its position in shares of Live Nation Entertainment by 21.4% during the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock worth $744,118,000 after purchasing an additional 1,004,574 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at $128,704,000. Price T Rowe Associates Inc. MD raised its position in shares of Live Nation Entertainment by 83.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock worth $207,490,000 after purchasing an additional 723,112 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Live Nation Entertainment by 3.7% in the first quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company’s stock valued at $2,596,305,000 after purchasing an additional 713,020 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYV has been the topic of several analyst reports. Morgan Stanley dropped their target price on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Guggenheim dropped their target price on shares of Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating on the stock in a report on Tuesday. Roth Capital reduced their target price on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. JPMorgan Chase & Co. cut their price target on Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Eighteen equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.68.

Live Nation Entertainment Stock Performance

LYV opened at $130.97 on Thursday. 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, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25. The firm has a market cap of $30.74 billion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37. The business’s fifty day moving average is $153.49 and its 200-day moving average is $151.34.

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 the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the prior year, the company earned $1.66 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts expect 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.