EFG Asset Management North America Corp. Purchases New Position in Live Nation Entertainment, Inc. $LYV

EFG Asset Management North America Corp. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,290 shares of the company’s stock, valued at approximately $1,191,000.

Several other institutional investors also recently modified their holdings of LYV. Seven Grand Managers LLC acquired a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $22,692,000. WT Wealth Management acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $1,753,000. Signaturefd LLC raised its stake in shares of Live Nation Entertainment by 25.3% during the second quarter. Signaturefd LLC now owns 1,342 shares of the company’s stock valued at $203,000 after acquiring an additional 271 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Live Nation Entertainment by 44.0% during the second quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock worth $3,407,000 after purchasing an additional 7,322 shares during the period. Finally, L2 Asset Management LLC grew its stake in shares of Live Nation Entertainment by 224.9% in the second quarter. L2 Asset Management LLC now owns 20,549 shares of the company’s stock worth $3,109,000 after purchasing an additional 14,224 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Down 0.7%

NYSE:LYV opened at $146.82 on Wednesday. The firm has a fifty day simple moving average of $140.34 and a two-hundred day simple moving average of $150.29. 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 capitalization of $34.46 billion, a price-to-earnings ratio of 106.39, a PEG ratio of 9.72 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data 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 return on equity of 97.90% and a net margin of 3.66%.The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same period last year, the company earned $1.66 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the topic of several recent research reports. Rothschild & Co Redburn cut their target price on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Roth Mkm cut their price objective on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Evercore ISI upped their target price on Live Nation Entertainment from $168.00 to $188.00 and gave the company an “outperform” rating in a report on Tuesday, December 23rd. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the stock a “sell” rating in a report on Friday, January 2nd. Finally, Moffett Nathanson reduced their price objective on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.55.

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.