Live Nation Entertainment, Inc. $LYV Stake Raised by Profund Advisors LLC

Profund Advisors LLC raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 51.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,141 shares of the company’s stock after acquiring an additional 3,767 shares during the quarter. Profund Advisors LLC’s holdings in Live Nation Entertainment were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Live Nation Entertainment by 2.1% during the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after buying an additional 423,541 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 22.1% in the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Live Nation Entertainment by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after acquiring an additional 156,471 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock worth $501,911,000 after acquiring an additional 212,592 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $198,336,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LYV shares. Guggenheim decreased their price target on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Jefferies Financial Group lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Moffett Nathanson dropped their target price on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Morgan Stanley cut their price target on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Susquehanna raised their price objective on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.55.

Live Nation Entertainment Trading Up 4.9%

NYSE LYV opened at $147.74 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment, Inc. has a 1-year low of $112.88 and a 1-year high of $175.25. The firm’s fifty day simple moving average is $142.84 and its 200-day simple moving average is $149.89. The company has a market capitalization of $34.68 billion, a PE ratio of 107.06, a price-to-earnings-growth ratio of 9.30 and a beta of 1.18.

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.