Elevation Point Wealth Partners LLC Purchases New Shares in Live Nation Entertainment, Inc. $LYV

Elevation Point Wealth Partners LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,457 shares of the company’s stock, valued at approximately $2,647,000.

Other hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC lifted its holdings in shares of Live Nation Entertainment by 4.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after acquiring an additional 75 shares during the last quarter. Vident Advisory LLC raised its position in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. lifted its stake in Live Nation Entertainment by 5.0% in the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of Live Nation Entertainment by 1.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after buying an additional 82 shares during the period. Finally, Root Financial Partners LLC grew its stake in shares of Live Nation Entertainment by 37.4% during the fourth quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock valued at $44,000 after buying an additional 85 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.3%

Shares of NYSE LYV opened at $182.28 on Monday. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $189.24. The firm has a market cap of $42.95 billion, a PE ratio of -161.31 and a beta of 1.12. The business has a fifty day simple moving average of $180.20 and a two-hundred day simple moving average of $166.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer set a $100.00 price target on Live Nation Entertainment in a report on Tuesday, July 28th. Sanford C. Bernstein lifted their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. BTIG Research reissued a “buy” rating and set a $215.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Finally, Guggenheim lifted their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Company 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.