HighTower Advisors LLC Boosts Position in Live Nation Entertainment, Inc. $LYV

HighTower Advisors LLC grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 19.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 197,890 shares of the company’s stock after purchasing an additional 32,641 shares during the period. HighTower Advisors LLC’s holdings in Live Nation Entertainment were worth $32,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Live Nation Entertainment by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock valued at $3,071,954,000 after purchasing an additional 423,541 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the period. Geode Capital Management LLC lifted its position in Live Nation Entertainment by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock worth $639,849,000 after acquiring an additional 156,471 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Live Nation Entertainment by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock worth $501,911,000 after acquiring an additional 212,592 shares during the period. Finally, Norges Bank acquired a new stake in Live Nation Entertainment in the second quarter valued at approximately $198,336,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LYV shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Evercore boosted their price target on Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 23rd. Moffett Nathanson lowered their price objective on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Roth Mkm set a $174.00 target price on Live Nation Entertainment in a research report on Thursday, February 12th. Finally, Morgan Stanley dropped their price target on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $172.45.

Live Nation Entertainment Stock Down 0.5%

Shares of NYSE:LYV opened at $156.82 on Thursday. The company’s fifty day moving average is $145.41 and its two-hundred day moving average is $150.13. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. 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 capitalization of $36.81 billion, a price-to-earnings ratio of 113.64, a price-to-earnings-growth ratio of 10.61 and a beta of 1.18.

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.