Allspring Global Investments Holdings LLC Purchases 19,917 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Allspring Global Investments Holdings LLC grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 587,912 shares of the company’s stock after purchasing an additional 19,917 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Live Nation Entertainment worth $62,183,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its holdings 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 worth $31,000 after purchasing an additional 200 shares during the last quarter. Rise Advisors LLC increased its stake in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $33,000. Tobam bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $59,000. Finally, SOA Wealth Advisors LLC. increased its stake in shares of Live Nation Entertainment by 238.1% in the 1st quarter. SOA Wealth Advisors LLC. now owns 852 shares of the company’s stock valued at $90,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the subject of several research analyst reports. TD Cowen reiterated a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 28th. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $110.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $96.71 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 92.11, a PEG ratio of 1.92 and a beta of 1.34. The company has a fifty day moving average price of $93.27 and a 200-day moving average price of $94.45.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. Live Nation Entertainment’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) EPS. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.37 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.