NewEdge Wealth LLC Buys Shares of 6,661 Live Nation Entertainment, Inc. $LYV

NewEdge Wealth LLC bought a new stake in 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 institutional investor bought 6,661 shares of the company’s stock, valued at approximately $1,220,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Live Nation Entertainment in the 4th quarter worth $285,924,000. Sachem Head Capital Management LP purchased a new position in Live Nation Entertainment in the 4th quarter worth approximately $173,380,000. Jericho Capital Asset Management L.P. boosted its position in shares of Live Nation Entertainment by 37.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after acquiring an additional 1,099,350 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Live Nation Entertainment by 653.7% during the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after purchasing an additional 1,033,289 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 10.3% during the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after buying an additional 1,001,905 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV opened at $182.28 on Friday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $180.20 and its 200-day moving average price is $166.31. The firm has a market capitalization of $42.95 billion, a PE ratio of -161.31 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $189.24.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (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 firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Rothschild & Co Redburn increased their price objective on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. BTIG Research restated a “buy” rating and set a $215.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average 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.