Live Nation Entertainment, Inc. $LYV Stock Position Decreased by Cantillon Capital Management LLC

Cantillon Capital Management LLC lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 2,775,959 shares of the company’s stock after selling 30,626 shares during the period. Live Nation Entertainment accounts for about 2.5% of Cantillon Capital Management LLC’s portfolio, making the stock its 15th biggest position. Cantillon Capital Management LLC’s holdings in Live Nation Entertainment were worth $453,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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. Geode Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 3.8% during the second 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 period. Massachusetts Financial Services Co. MA grew its position in shares of Live Nation Entertainment by 7.4% during the third 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. Norges Bank acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth about $198,336,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Live Nation Entertainment by 3.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,110,321 shares of the company’s stock valued at $167,969,000 after purchasing an additional 32,277 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on LYV. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Evercore ISI raised their target price on Live Nation Entertainment from $168.00 to $188.00 and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. Susquehanna boosted their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Morgan Stanley reduced their price objective on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, UBS Group started coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 25th. They set a “buy” rating and a $164.00 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $173.30.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $138.19 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. The firm has a market cap of $32.44 billion, a P/E ratio of 100.14, a PEG ratio of 9.19 and a beta of 1.20. The business’s 50-day moving average price is $139.50 and its 200 day moving average price is $150.16.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. During the same period in the prior year, the firm earned $1.66 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.