Wealthfront Advisers LLC Purchases 9,368 Shares of Live Nation Entertainment, Inc. $LYV

Wealthfront Advisers LLC grew its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 56.4% during the third quarter, HoldingsChannel.com reports. The fund owned 25,980 shares of the company’s stock after acquiring an additional 9,368 shares during the quarter. Wealthfront Advisers LLC’s holdings in Live Nation Entertainment were worth $4,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYV. Vanguard Group Inc. increased its position in Live Nation Entertainment by 2.1% in the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after purchasing an additional 423,541 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after buying an additional 1,763,511 shares during the last quarter. Geode Capital Management LLC raised 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 buying an additional 156,471 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 valued at $501,911,000 after acquiring an additional 212,592 shares during the last quarter. Finally, Norges Bank purchased a new position in Live Nation Entertainment in the second quarter worth about $198,336,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $154.83 on Friday. 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 has a market cap of $36.34 billion, a price-to-earnings ratio of 112.19, a price-to-earnings-growth ratio of 9.98 and a beta of 1.18. The firm has a 50-day moving average of $143.86 and a two-hundred day moving average of $149.90. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LYV. JPMorgan Chase & Co. lowered their price objective on Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating for the company in a research note on Friday, January 16th. UBS Group initiated coverage on Live Nation Entertainment in a research report on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price target for the company. Roth Mkm set a $174.00 price objective on shares of Live Nation Entertainment in a research report on Thursday. Evercore upped their price target on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the company an “outperform” rating in a report on Tuesday, December 23rd. Finally, Jefferies Financial Group downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $161.00 to $155.00 in a research note on Tuesday, January 13th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $172.45.

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.