Hershey Financial Advisers LLC Purchases Shares of 6,599 Live Nation Entertainment, Inc. $LYV

Hershey Financial Advisers LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,599 shares of the company’s stock, valued at approximately $998,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC increased its holdings in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 136 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter valued at about $56,000. TD Private Client Wealth LLC acquired a new position in Live Nation Entertainment in the 2nd quarter worth about $62,000. Allworth Financial LP grew its holdings in Live Nation Entertainment by 48.8% in the second quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after purchasing an additional 147 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $70,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 0.8%

Shares of NYSE LYV opened at $143.05 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. The company has a 50-day moving average of $143.07 and a 200 day moving average of $150.44. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The stock has a market cap of $33.58 billion, a PE ratio of 103.66 and a beta of 1.22.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) 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 analysts’ expectations of $8.87 billion. During the same quarter last year, the company earned $1.66 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LYV. Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a “buy” rating and a $195.00 target price on the stock. Roth Capital decreased their price objective on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. 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 note on Wednesday, November 5th. The Goldman Sachs Group decreased their price target on shares of Live Nation Entertainment from $162.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Finally, Morgan Stanley cut their price objective on 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. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $173.00.

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.