Berger Financial Group Inc Boosts Holdings in Live Nation Entertainment, Inc. $LYV

Berger Financial Group Inc lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 39,463 shares of the company’s stock after buying an additional 718 shares during the period. Berger Financial Group Inc’s holdings in Live Nation Entertainment were worth $5,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LYV. Gilbert & Cook Inc. grew its holdings in shares of Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after acquiring an additional 75 shares during the period. Central Pacific Bank Trust Division grew its stake in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after purchasing an additional 97 shares during the period. Trust Asset Management LLC raised its holdings in Live Nation Entertainment by 5.8% in the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after purchasing an additional 98 shares in the last quarter. Callan Family Office LLC lifted its position in Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock valued at $732,000 after buying an additional 98 shares during the period. Finally, HM Payson & Co. boosted its holdings in shares of Live Nation Entertainment by 9.5% during the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company’s stock valued at $150,000 after buying an additional 100 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

LYV stock opened at $156.01 on Friday. The stock’s 50 day simple moving average is $161.58 and its 200 day simple moving average is $146.70. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 12-month low of $109.15 and a 12-month high of $175.25. The stock has a market capitalization of $36.58 billion, a PE ratio of 67.54, a price-to-earnings-growth ratio of 10.63 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Wolfe Research raised their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Guggenheim reissued a “buy” rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a “positive” rating in a report on Tuesday, June 10th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $171.42.

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.