Edgestream Partners L.P. Has $1.15 Million Holdings in Live Nation Entertainment, Inc. $LYV

Edgestream Partners L.P. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 76.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,628 shares of the company’s stock after selling 25,247 shares during the period. Edgestream Partners L.P.’s holdings in Live Nation Entertainment were worth $1,154,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at $201,501,000. Norges Bank acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $198,336,000. Independent Franchise Partners LLP increased its holdings in shares of Live Nation Entertainment by 21.4% in the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after purchasing an additional 1,004,574 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter worth approximately $128,704,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Live Nation Entertainment by 83.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock worth $207,490,000 after purchasing an additional 723,112 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV opened at $139.20 on Friday. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $32.68 billion, a PE ratio of 100.87 and a beta of 1.22. The stock has a 50-day moving average of $145.07 and a 200-day moving average of $150.57. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the previous year, the business posted $1.66 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Citigroup lowered their target price on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. JPMorgan Chase & Co. cut their price target on Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Roth Capital lowered their price target on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Nineteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.50.

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.