Envestnet Asset Management Inc. Has $54.73 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Envestnet Asset Management Inc. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,934 shares of the company’s stock after buying an additional 26,116 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Live Nation Entertainment worth $54,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYV. Peregrine Asset Advisers Inc. increased its stake in shares of Live Nation Entertainment by 5.7% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 37,655 shares of the company’s stock valued at $6,153,000 after buying an additional 2,035 shares during the period. Strategy Asset Managers LLC acquired a new stake in Live Nation Entertainment in the third quarter worth about $745,000. Jones Financial Companies Lllp raised its holdings in Live Nation Entertainment by 221.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 5,895 shares of the company’s stock worth $954,000 after purchasing an additional 4,060 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after purchasing an additional 1,763,511 shares during the last quarter. Finally, Keybank National Association OH grew its position in shares of Live Nation Entertainment by 8.8% during the 3rd quarter. Keybank National Association OH now owns 8,278 shares of the company’s stock worth $1,353,000 after buying an additional 670 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 4.9%

LYV stock opened at $147.74 on Tuesday. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $34.68 billion, a P/E ratio of 107.06, a P/E/G ratio of 9.30 and a beta of 1.18. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The business has a 50-day moving average of $142.84 and a 200-day moving average of $149.89.

Analysts Set New Price Targets

A number of analysts have commented on LYV shares. Citigroup lowered their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. JPMorgan Chase & Co. reduced their price target on Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Rothschild & Co Redburn dropped their price objective on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Guggenheim reduced their target price on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Finally, Moffett Nathanson decreased their target price on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average 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.