Massey Quick Simon & CO. LLC boosted its holdings in shares of Live Nation (NYSE:LYV) by 76.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,656 shares of the company’s stock after buying an additional 3,305 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in Live Nation were worth $323,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in LYV. IFP Advisors Inc lifted its holdings in Live Nation by 85.4% during the fourth quarter. IFP Advisors Inc now owns 3,088 shares of the company’s stock valued at $131,000 after purchasing an additional 1,422 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Live Nation by 379.4% in the fourth quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $165,000 after buying an additional 3,062 shares in the last quarter. Global X Management Co. LLC lifted its holdings in shares of Live Nation by 45.5% in the fourth quarter. Global X Management Co. LLC now owns 4,239 shares of the company’s stock worth $180,000 after buying an additional 1,325 shares in the last quarter. Santa Monica Partners LP purchased a new position in shares of Live Nation in the fourth quarter worth $230,000. Finally, Bank of Hawaii purchased a new position in shares of Live Nation in the fourth quarter worth $298,000. Institutional investors own 68.84% of the company’s stock.
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Several equities analysts have recently commented on the stock. Evercore ISI raised shares of Live Nation from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $32.80 to $49.11 in a report on Friday, May 4th. Zacks Investment Research downgraded shares of Live Nation from a “hold” rating to a “sell” rating in a report on Wednesday. Northcoast Research raised shares of Live Nation from a “neutral” rating to a “buy” rating in a report on Monday, April 23rd. Guggenheim reissued a “buy” rating and issued a $53.00 target price on shares of Live Nation in a report on Thursday, March 1st. Finally, ValuEngine raised shares of Live Nation from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $49.14.
Live Nation opened at $42.80 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.
Live Nation (NYSE:LYV) last released its quarterly earnings results on Thursday, May 3rd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Live Nation had a negative net margin of 0.25% and a negative return on equity of 1.76%. Live Nation’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. research analysts forecast that Live Nation will post 0.14 earnings per share for the current year.
Live Nation Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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