Wealth Enhancement Advisory Services LLC Increases Stake in Live Nation Entertainment, Inc. $LYV

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,312 shares of the company’s stock after acquiring an additional 584 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Live Nation Entertainment were worth $644,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Live Nation Entertainment by 6.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 62,700 shares of the company’s stock worth $9,485,000 after acquiring an additional 4,000 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Live Nation Entertainment by 11.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,600 shares of the company’s stock worth $3,570,000 after acquiring an additional 2,381 shares during the period. Jackson Square Capital LLC purchased a new position in shares of Live Nation Entertainment during the 2nd quarter worth about $299,000. Bank of New Hampshire lifted its holdings in shares of Live Nation Entertainment by 3.2% during the 2nd quarter. Bank of New Hampshire now owns 19,750 shares of the company’s stock worth $2,988,000 after acquiring an additional 605 shares during the period. Finally, Czech National Bank raised its holdings in Live Nation Entertainment by 7.0% in the second quarter. Czech National Bank now owns 38,524 shares of the company’s stock valued at $5,828,000 after buying an additional 2,508 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Guggenheim restated a “buy” rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Wolfe Research raised their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price target for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Finally, Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a report on Thursday, July 24th. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $171.21.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $156.01 on Friday. The company has a market cap of $36.58 billion, a PE ratio of 67.54, a P/E/G ratio of 10.65 and a beta of 1.40. The company has a fifty day moving average price of $161.58 and a two-hundred day moving average price of $146.54. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a 12 month low of $109.15 and a 12 month high of $175.25.

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

Live Nation Entertainment 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.