Vanguard Capital Wealth Advisors Acquires Shares of 2,550 Live Nation Entertainment, Inc. (NYSE:LYV)

Vanguard Capital Wealth Advisors bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,550 shares of the company’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in Live Nation Entertainment in the third quarter valued at approximately $321,000. Mariner LLC increased its stake in Live Nation Entertainment by 19.8% in the third quarter. Mariner LLC now owns 7,520 shares of the company’s stock valued at $624,000 after purchasing an additional 1,243 shares during the period. Northern Trust Corp raised its holdings in shares of Live Nation Entertainment by 3.5% in the third quarter. Northern Trust Corp now owns 1,413,557 shares of the company’s stock valued at $117,382,000 after buying an additional 47,300 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Live Nation Entertainment by 9,800.0% during the third 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 during the period. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Live Nation Entertainment during the third quarter worth about $247,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Redburn Atlantic raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the company from $114.00 to $115.00 in a report on Thursday, May 9th. Rosenblatt Securities increased their target price on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer restated an “outperform” rating and issued a $110.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Finally, Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.58.

Live Nation Entertainment Stock Up 3.8 %

Shares of NYSE LYV traded up $3.42 during midday trading on Friday, reaching $94.23. 692,321 shares of the company’s stock were exchanged, compared to its average volume of 2,232,099. The stock has a market capitalization of $21.65 billion, a PE ratio of 86.50, a price-to-earnings-growth ratio of 1.85 and a beta of 1.35. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $107.24. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day moving average price is $92.94 and its two-hundred day moving average price is $94.29.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company earned ($0.25) earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 1.37 EPS for the current 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.