Live Nation Entertainment, Inc. $LYV Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 549,031 shares of the company’s stock after buying an additional 74,407 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Live Nation Entertainment were worth $82,289,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CWM LLC raised its stake in Live Nation Entertainment by 10.0% during the 2nd quarter. CWM LLC now owns 2,608 shares of the company’s stock valued at $395,000 after purchasing an additional 237 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Live Nation Entertainment by 38.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,180 shares of the company’s stock valued at $2,600,000 after buying an additional 4,780 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in Live Nation Entertainment during the second quarter valued at $219,000. Fifth Third Wealth Advisors LLC lifted its stake in Live Nation Entertainment by 2.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after acquiring an additional 69 shares in the last quarter. Finally, IRON Financial LLC acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $210,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV opened at $153.65 on Tuesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $36.03 billion, a PE ratio of 66.52, a price-to-earnings-growth ratio of 10.40 and a beta of 1.40. The stock has a 50-day moving average of $161.96 and a 200-day moving average of $148.01. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on LYV. Benchmark increased their price target on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Oppenheimer lifted their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Finally, Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They issued a “buy” rating and a $195.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.42.

Live Nation Entertainment Company 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.