Live Nation Entertainment, Inc. (NYSE:LYV) Holdings Cut by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,958,668 shares of the company’s stock after selling 12,178 shares during the quarter. Vanguard Group Inc. owned approximately 7.78% of Live Nation Entertainment worth $1,680,931,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Creative Financial Designs Inc. ADV boosted its stake in Live Nation Entertainment by 148.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Live Nation Entertainment during the third quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after buying an additional 490 shares in the last quarter. Tobam acquired a new stake in Live Nation Entertainment in the 4th quarter valued at approximately $59,000. Finally, Western Pacific Wealth Management LP raised its stake in Live Nation Entertainment by 15.8% during the 4th quarter. Western Pacific Wealth Management LP now owns 981 shares of the company’s stock valued at $92,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LYV. TD Cowen reissued a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Oppenheimer lowered their target price on shares of Live Nation Entertainment from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Roth Mkm reiterated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Friday, May 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment Price Performance

LYV stock opened at $91.94 on Thursday. The firm has a 50-day moving average of $93.76 and a two-hundred day moving average of $94.07. The firm has a market capitalization of $21.12 billion, a PE ratio of 87.56, a P/E/G ratio of 1.84 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company posted ($0.25) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. On average, analysts forecast that Live Nation Entertainment, Inc. will post 1.38 earnings per share for the current 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.