Envestnet Asset Management Inc. Has $54.73 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Envestnet Asset Management Inc. lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.5% during the third quarter, Holdings Channel.com reports. The fund owned 334,934 shares of the company’s stock after buying an additional 26,116 shares during the period. Envestnet Asset Management Inc.’s holdings in Live Nation Entertainment were worth $54,728,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Live Nation Entertainment by 2.1% during the 2nd 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 in the last quarter. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after buying an additional 1,763,511 shares during the last quarter. Geode Capital Management LLC raised its stake in Live Nation Entertainment by 3.8% in the second quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after buying an additional 156,471 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Live Nation Entertainment by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock valued at $501,911,000 after buying an additional 212,592 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $198,336,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 4.9%

NYSE LYV opened at $147.74 on Tuesday. The company has a market cap of $34.68 billion, a price-to-earnings ratio of 107.06, a PEG ratio of 9.30 and a beta of 1.18. Live Nation Entertainment, Inc. has a 1-year low of $112.88 and a 1-year high of $175.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. The company has a 50 day moving average of $142.84 and a 200-day moving average of $149.89.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research downgraded Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. UBS Group started coverage on shares of Live Nation Entertainment in a research note on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. JPMorgan Chase & Co. decreased their target price on Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Finally, Rothschild & Co Redburn dropped their price target on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price 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.