Cambridge Investment Research Advisors Inc. trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 41.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,089 shares of the company’s stock after selling 7,757 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Live Nation Entertainment were worth $1,010,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Providence Capital Advisors LLC boosted its position 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 buying an additional 2,069 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Live Nation Entertainment by 773.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 463 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares during the last quarter. KB Financial Partners LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth $41,000. Parkside Financial Bank & Trust boosted its position in shares of Live Nation Entertainment by 153.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the company’s stock worth $48,000 after purchasing an additional 251 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its position in shares of Live Nation Entertainment by 348.8% in the 1st quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock worth $63,000 after purchasing an additional 701 shares during the last quarter. 70.95% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on LYV. TD Cowen lifted their target price on Live Nation Entertainment from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. StockNews.com initiated coverage on Live Nation Entertainment in a research note on Thursday. They issued a “hold” rating on the stock. Evercore ISI lifted their price target on Live Nation Entertainment from $90.00 to $100.00 and gave the company an “in-line” rating in a research note on Monday, July 24th. Roth Mkm lifted their target price on Live Nation Entertainment from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Finally, Citigroup lifted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $105.69.
Live Nation Entertainment Trading Up 1.3 %
Live Nation Entertainment stock opened at $85.23 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $64.25 and a 52 week high of $101.74. The stock has a market capitalization of $19.62 billion, a P/E ratio of 79.65 and a beta of 1.29. The stock has a 50-day simple moving average of $84.14 and a 200 day simple moving average of $81.68. The company has a debt-to-equity ratio of 17.65, a quick ratio of 1.08 and a current ratio of 1.08.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its quarterly earnings data 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. Live Nation Entertainment had a return on equity of 190.42% and a net margin of 2.34%. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue was up 27.0% on a year-over-year basis. Analysts expect that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.
About Live Nation Entertainment
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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