Live Nation Entertainment, Inc. $LYV Shares Acquired by Aberdeen Group plc

Aberdeen Group plc boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,526 shares of the company’s stock after buying an additional 21,983 shares during the period. Aberdeen Group plc’s holdings in Live Nation Entertainment were worth $18,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $1,589,196,000 after acquiring an additional 1,763,511 shares during the period. Norges Bank purchased a new position in Live Nation Entertainment during the 2nd quarter worth approximately $198,336,000. Vanguard Group Inc. raised its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock valued at $3,071,954,000 after purchasing an additional 423,541 shares during the period. Holocene Advisors LP purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at $54,126,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of Live Nation Entertainment by 110.2% in 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 during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Down 0.5%

Live Nation Entertainment stock opened at $156.82 on Thursday. 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 $145.41 and its 200-day simple moving average is $150.13. The company has a market capitalization of $36.81 billion, a P/E ratio of 113.64, a P/E/G ratio of 10.61 and a beta of 1.18.

Analyst Upgrades and Downgrades

LYV has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Roth Mkm set a $174.00 target price on Live Nation Entertainment in a report on Thursday, February 12th. Evercore raised their price target on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Jefferies Financial Group lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Finally, Moffett Nathanson decreased their target price on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.45.

Live Nation Entertainment Company 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.