Live Nation Entertainment, Inc. $LYV Shares Acquired by Profund Advisors LLC

Profund Advisors LLC increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 51.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,141 shares of the company’s stock after purchasing an additional 3,767 shares during the quarter. Profund Advisors LLC’s holdings in Live Nation Entertainment were worth $1,820,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings 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 buying an additional 1,763,511 shares during the period. Norges Bank bought a new position in Live Nation Entertainment in the second quarter worth about $198,336,000. Vanguard Group Inc. boosted its stake in Live Nation Entertainment by 2.1% in the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock valued at $3,071,954,000 after acquiring an additional 423,541 shares during the period. Holocene Advisors LP bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $54,126,000. Finally, Westfield Capital Management Co. LP raised its position in shares of Live Nation Entertainment by 110.2% during the 2nd quarter. Westfield Capital Management Co. LP now owns 677,730 shares of the company’s stock worth $102,527,000 after purchasing an additional 355,279 shares during the period. Institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Roth Mkm lowered their price objective 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. Susquehanna boosted their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. UBS Group began coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 25th. They set a “buy” rating and a $164.00 price target for the company. Evercore lifted their price objective on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. Finally, Citigroup reduced 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 research note on Thursday, October 23rd. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.55.

Live Nation Entertainment Trading Up 4.9%

Shares of NYSE:LYV opened at $147.74 on Tuesday. The company has a 50 day moving average of $142.84 and a 200-day moving average of $149.89. 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 firm has a market cap 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 twelve month low of $112.88 and a twelve month high of $175.25.

About Live Nation Entertainment

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.