QRG Capital Management Inc. Grows Stock Holdings in Live Nation Entertainment, Inc. $LYV

QRG Capital Management Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 20,279 shares of the company’s stock after buying an additional 2,289 shares during the period. QRG Capital Management Inc.’s holdings in Live Nation Entertainment were worth $3,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new position in Live Nation Entertainment in the 1st quarter worth about $1,153,000. Praxis Investment Management Inc. boosted its position in shares of Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock valued at $726,000 after acquiring an additional 1,730 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Live Nation Entertainment during the first quarter valued at approximately $272,000. Teacher Retirement System of Texas bought a new stake in Live Nation Entertainment during the 1st quarter worth approximately $3,081,000. Finally, Personal CFO Solutions LLC purchased a new stake in Live Nation Entertainment in the 1st quarter worth approximately $277,000. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LYV shares. Rothschild Redb cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Wolfe Research raised their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Benchmark boosted their price objective on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Finally, Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a “positive” rating in a research note on Tuesday, June 10th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $171.42.

Live Nation Entertainment Price Performance

NYSE LYV opened at $156.02 on Tuesday. 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 $110.21 and a 12 month high of $175.25. The company’s 50 day moving average is $161.64 and its two-hundred day moving average is $147.11. The stock has a market cap of $36.58 billion, a price-to-earnings ratio of 67.54, a PEG ratio of 10.63 and a beta of 1.40.

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

About Live Nation Entertainment

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.