Baird Financial Group Inc. Acquires 214,025 Shares of Live Nation Entertainment, Inc. $LYV

Baird Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 127.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 381,489 shares of the company’s stock after purchasing an additional 214,025 shares during the quarter. Baird Financial Group Inc.’s holdings in Live Nation Entertainment were worth $57,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LYV. DigitalBridge Group Inc. boosted its position in Live Nation Entertainment by 2.6% during the second quarter. DigitalBridge Group Inc. now owns 250,554 shares of the company’s stock worth $37,904,000 after purchasing an additional 6,328 shares during the period. Guggenheim Capital LLC raised its position in shares of Live Nation Entertainment by 5.3% in the second quarter. Guggenheim Capital LLC now owns 15,301 shares of the company’s stock valued at $2,315,000 after purchasing an additional 775 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after buying an additional 109 shares during the last quarter. Plan Group Financial LLC boosted its holdings in shares of Live Nation Entertainment by 18.8% during the 2nd quarter. Plan Group Financial LLC now owns 3,055 shares of the company’s stock worth $462,000 after buying an additional 483 shares during the period. Finally, Westerkirk Capital Inc. acquired a new position in Live Nation Entertainment in the 2nd quarter valued at about $1,313,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $139.73 on Friday. The firm has a market cap of $32.80 billion, a PE ratio of 101.25 and a beta of 1.22. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $145.52 and its two-hundred day moving average price is $150.63. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. During the same period last year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Guggenheim lowered their target price on Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Moffett Nathanson began coverage on Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 price target for the company. Oppenheimer upped their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, Rothschild & Co Redburn downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $144.00 to $170.00 in a report on Tuesday, September 16th. Nineteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.50.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.