Assenagon Asset Management S.A. boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 13.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,148 shares of the company’s stock after purchasing an additional 4,154 shares during the period. Assenagon Asset Management S.A.’s holdings in Live Nation Entertainment were worth $4,422,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of LYV. Select Equity Group L.P. boosted its stake in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. D1 Capital Partners L.P. boosted its stake in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares during the period. ValueAct Holdings L.P. acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $111,094,000. PointState Capital LP acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $102,762,000. Finally, Vulcan Value Partners LLC boosted its stake in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after buying an additional 855,197 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.
Live Nation Entertainment Stock Performance
NYSE:LYV opened at $135.71 on Tuesday. The company has a market cap of $31.53 billion, a price-to-earnings ratio of 144.37, a PEG ratio of 1.50 and a beta of 1.38. The firm’s 50-day moving average is $133.75 and its 200-day moving average is $113.85. Live Nation Entertainment, Inc. has a 52-week low of $86.67 and a 52-week high of $141.18. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.
Wall Street Analyst Weigh In
LYV has been the subject of a number of research reports. Macquarie lifted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup lifted their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Benchmark lifted their price objective on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $145.40.
Live Nation Entertainment Company 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.
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