Geode Capital Management LLC Increases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Geode Capital Management LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,763,557 shares of the company’s stock after acquiring an additional 321,832 shares during the period. Geode Capital Management LLC’s holdings in Live Nation Entertainment were worth $410,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Cromwell Holdings LLC raised its stake in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the last quarter. Private Advisor Group LLC raised its position in Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Live Nation Entertainment by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after acquiring an additional 95 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Live Nation Entertainment by 2.3% in the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after acquiring an additional 105 shares during the period. Finally, Mystic Asset Management Inc. raised its holdings in shares of Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.1 %

LYV stock opened at $135.95 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $86.67 and a 12-month high of $141.18. The business’s 50-day moving average is $125.79 and its 200 day moving average is $106.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 144.63, a PEG ratio of 3.65 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LYV shares. Evercore ISI lifted their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Macquarie upped their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.33.

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.