Boothbay Fund Management LLC Acquires 7,109 Shares of Live Nation Entertainment, Inc. $LYV

Boothbay Fund Management LLC increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,604 shares of the company’s stock after purchasing an additional 7,109 shares during the period. Boothbay Fund Management LLC’s holdings in Live Nation Entertainment were worth $12,345,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC grew its position in shares of Live Nation Entertainment by 2.5% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after buying an additional 69 shares during the period. Central Pacific Bank Trust Division boosted its stake in Live Nation Entertainment by 1.8% during the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after acquiring an additional 97 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares during the period. Horizon Investments LLC increased its stake in Live Nation Entertainment by 5.1% in the first quarter. Horizon Investments LLC now owns 2,251 shares of the company’s stock valued at $294,000 after purchasing an additional 110 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Live Nation Entertainment by 0.4% during the second quarter. Retirement Systems of Alabama now owns 33,819 shares of the company’s stock valued at $5,116,000 after purchasing an additional 123 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on LYV shares. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their target price for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Moffett Nathanson started coverage on Live Nation Entertainment in a report on Monday, August 18th. They set a “buy” rating and a $195.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Live Nation Entertainment in a research report on Monday. Evercore ISI reduced their price target on shares of Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Morgan Stanley lowered their price objective 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. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.50.

Live Nation Entertainment Price Performance

LYV opened at $143.05 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. 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 company has a market capitalization of $33.58 billion, a price-to-earnings ratio of 103.66 and a beta of 1.22. The firm’s fifty day moving average price is $143.07 and its two-hundred day moving average price is $150.39.

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

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.