ProShare Advisors LLC Raises Position in Live Nation Entertainment, Inc. $LYV

ProShare Advisors LLC lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,507 shares of the company’s stock after buying an additional 375 shares during the quarter. ProShare Advisors LLC’s holdings in Live Nation Entertainment were worth $5,674,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atria Wealth Solutions Inc. boosted its position in Live Nation Entertainment by 108.1% in the 1st quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company’s stock valued at $475,000 after buying an additional 1,888 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 6,183.8% in the first quarter. Baird Financial Group Inc. now owns 167,464 shares of the company’s stock worth $21,867,000 after acquiring an additional 164,799 shares in the last quarter. Aberdeen Group plc boosted its holdings in Live Nation Entertainment by 3.9% in the second quarter. Aberdeen Group plc now owns 93,543 shares of the company’s stock valued at $14,151,000 after purchasing an additional 3,542 shares during the last quarter. Victory Capital Management Inc. grew its stake in Live Nation Entertainment by 26.0% during the 1st quarter. Victory Capital Management Inc. now owns 144,811 shares of the company’s stock valued at $18,909,000 after purchasing an additional 29,855 shares in the last quarter. Finally, Malaga Cove Capital LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $361,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 2.6%

NYSE:LYV opened at $136.90 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 59.26, a PEG ratio of 12.85 and a beta of 1.37. The business has a fifty day moving average of $156.38 and a 200-day moving average of $151.22. 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 (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. During the same quarter in the prior year, the business earned $1.66 EPS. Live Nation Entertainment’s revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYV. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $144.00 to $170.00 in a report on Tuesday, September 16th. Oppenheimer increased their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, Evercore ISI decreased their price target on shares of Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.84.

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.