Meeder Advisory Services Inc. Invests $514,000 in Live Nation Entertainment, Inc. $LYV

Meeder Advisory Services Inc. purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,805 shares of the company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Meeder Asset Management Inc. acquired a new stake in Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Live Nation Entertainment during the second quarter worth approximately $325,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $1,291,000. TimesSquare Capital Management LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $44,415,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Live Nation Entertainment in the 2nd quarter valued at $71,150,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LYV. Roth Capital set a $208.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Citigroup boosted their price target on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a report on Tuesday, July 28th. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Sanford C. Bernstein lifted their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $197.19.

Live Nation Entertainment Trading Down 1.3%

Shares of Live Nation Entertainment stock opened at $181.79 on Friday. The company has a 50-day moving average of $180.00 and a two-hundred day moving average of $166.20. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock has a market cap of $42.84 billion, a PE ratio of -160.88 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.