Allspring Global Investments Holdings LLC trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 439,054 shares of the company’s stock after selling 20,781 shares during the period. Allspring Global Investments Holdings LLC owned 0.19% of Live Nation Entertainment worth $40,002,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of LYV. Providence Capital Advisors LLC boosted its holdings in Live Nation Entertainment by 6,674.2% in the 1st quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company’s stock valued at $30,000 after purchasing an additional 2,069 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Live Nation Entertainment by 773.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 463 shares of the company’s stock valued at $32,000 after buying an additional 410 shares in the last quarter. KB Financial Partners LLC purchased a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $41,000. Parkside Financial Bank & Trust raised its position in shares of Live Nation Entertainment by 153.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the company’s stock valued at $48,000 after buying an additional 251 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its position in shares of Live Nation Entertainment by 348.8% during the 1st quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock valued at $63,000 after buying an additional 701 shares in the last quarter. 70.95% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LYV has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Live Nation Entertainment from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. TD Cowen raised their price objective on shares of Live Nation Entertainment from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, July 25th. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Citigroup raised their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, TheStreet upgraded shares of Live Nation Entertainment from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.69.
Live Nation Entertainment Price Performance
Shares of Live Nation Entertainment stock opened at $83.04 on Friday. The firm has a market cap of $19.11 billion, a PE ratio of 77.61 and a beta of 1.30. Live Nation Entertainment, Inc. has a 12-month low of $64.25 and a 12-month high of $101.74. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 17.65. The company’s fifty day simple moving average is $85.21 and its two-hundred day simple moving average is $81.30.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.45. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $4.95 billion. Live Nation Entertainment had a net margin of 2.34% and a return on equity of 190.42%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.
Live Nation Entertainment Profile
Live Nation Entertainment, Inc operates as a live entertainment company. 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; 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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