EFG Asset Management North America Corp. Purchases Shares of 7,290 Live Nation Entertainment, Inc. $LYV

EFG Asset Management North America Corp. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the third quarter, Holdings Channel.com reports. The fund acquired 7,290 shares of the company’s stock, valued at approximately $1,191,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYV. Norges Bank bought a new position in Live Nation Entertainment in the 2nd quarter valued at about $198,336,000. Vanguard Group Inc. raised its stake in shares of Live Nation Entertainment by 2.1% in the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after purchasing an additional 423,541 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $54,126,000. Westfield Capital Management Co. LP grew its holdings in Live Nation Entertainment by 110.2% during the second quarter. Westfield Capital Management Co. LP now owns 677,730 shares of the company’s stock worth $102,527,000 after buying an additional 355,279 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Live Nation Entertainment by 771.5% in the 2nd quarter. AQR Capital Management LLC now owns 302,587 shares of the company’s stock valued at $45,542,000 after buying an additional 267,868 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Down 0.7%

Shares of LYV stock opened at $146.82 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. The firm has a market cap of $34.46 billion, a P/E ratio of 106.39, a PEG ratio of 9.72 and a beta of 1.20. The company has a 50 day moving average of $140.34 and a 200-day moving average of $150.29. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.81). The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.66 earnings per share. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

LYV has been the topic of a number of analyst reports. Roth Mkm cut their price objective on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Monday, December 29th. Citigroup decreased their price objective on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, UBS Group began coverage on Live Nation Entertainment in a research report on Tuesday, November 25th. They set a “buy” rating and a $164.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $172.55.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.