Vestmark Advisory Solutions Inc. Invests $470,000 in Live Nation Entertainment, Inc. $LYV

Vestmark Advisory Solutions Inc. bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 2nd quarter, Holdings Channel reports. The fund bought 3,110 shares of the company’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GW&K Investment Management LLC grew its position in shares of Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock worth $42,000 after buying an additional 283 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Live Nation Entertainment in the first quarter valued at $42,000. TD Private Client Wealth LLC purchased a new position in Live Nation Entertainment during the 2nd quarter valued at $62,000. Brooklyn Investment Group raised its holdings in Live Nation Entertainment by 95.3% in the 1st quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock worth $81,000 after purchasing an additional 301 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Live Nation Entertainment by 60.1% in the 1st quarter. MAI Capital Management now owns 663 shares of the company’s stock worth $87,000 after purchasing an additional 249 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $141.98 on Wednesday. The company has a market capitalization of $33.33 billion, a price-to-earnings ratio of 61.46, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25. The company’s 50-day moving average is $157.32 and its 200 day moving average is $151.39.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter in the prior year, the company posted $1.66 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on LYV. Guggenheim decreased their target price on Live Nation Entertainment from $182.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price target for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.84.

About Live Nation Entertainment

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.