BSW Wealth Partners raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,665 shares of the company’s stock after purchasing an additional 175 shares during the period. BSW Wealth Partners’ holdings in Live Nation Entertainment were worth $403,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new position in shares of Live Nation Entertainment in the first quarter worth approximately $1,153,000. Praxis Investment Management Inc. lifted its position in shares of Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock worth $726,000 after purchasing an additional 1,730 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Live Nation Entertainment in the 1st quarter valued at $272,000. Teacher Retirement System of Texas acquired a new stake in shares of Live Nation Entertainment during the first quarter worth $3,081,000. Finally, Personal CFO Solutions LLC bought a new position in Live Nation Entertainment during the first quarter worth $277,000. Institutional investors own 74.52% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have weighed in on LYV shares. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a 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 note on Tuesday, August 12th. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Guggenheim reaffirmed a “buy” rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a “positive” rating in a research report on Tuesday, June 10th. Eighteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $171.21.
Live Nation Entertainment Trading Down 1.3%
NYSE LYV opened at $156.76 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 52 week low of $107.65 and a 52 week high of $175.25. The business has a 50 day moving average price of $161.52 and a 200-day moving average price of $146.28. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 67.86, a P/E/G ratio of 10.80 and a beta of 1.40.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its quarterly earnings results 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). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share 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.
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