Fifth Third Bancorp Boosts Stock Holdings in Live Nation Entertainment, Inc. $LYV

Fifth Third Bancorp boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,737 shares of the company’s stock after buying an additional 398 shares during the period. Fifth Third Bancorp’s holdings in Live Nation Entertainment were worth $868,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Live Nation Entertainment by 16,161.2% during the 1st quarter. GAMMA Investing LLC now owns 511,090 shares of the company’s stock worth $66,738,000 after purchasing an additional 507,947 shares during the last quarter. BTC Capital Management Inc. boosted its holdings in shares of Live Nation Entertainment by 2.7% during the 1st quarter. BTC Capital Management Inc. now owns 4,475 shares of the company’s stock worth $584,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 17.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,759 shares of the company’s stock worth $360,000 after purchasing an additional 413 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Live Nation Entertainment by 7.6% during the 1st quarter. Rhumbline Advisers now owns 311,160 shares of the company’s stock worth $40,631,000 after purchasing an additional 21,966 shares during the last quarter. Finally, Czech National Bank boosted its holdings in shares of Live Nation Entertainment by 5.9% during the 1st quarter. Czech National Bank now owns 36,016 shares of the company’s stock worth $4,703,000 after purchasing an additional 2,017 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 0.0%

NYSE:LYV opened at $162.02 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock’s fifty day moving average is $160.79 and its two-hundred day moving average is $145.51. Live Nation Entertainment, Inc. has a 52 week low of $107.14 and a 52 week high of $175.25. The stock has a market capitalization of $37.99 billion, a price-to-earnings ratio of 70.14, a price-to-earnings-growth ratio of 10.91 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Benchmark boosted their target price on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Moffett Nathanson initiated coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective on the stock. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price objective on the stock. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a report on Thursday, July 24th. Finally, Rothschild & Co Redburn cut Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their price objective for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Eighteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $171.21.

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.