Quantbot Technologies LP Increases Holdings in Live Nation Entertainment, Inc. $LYV

Quantbot Technologies LP lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,415 shares of the company’s stock after buying an additional 3,210 shares during the period. Quantbot Technologies LP’s holdings in Live Nation Entertainment were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Accredited Wealth Management LLC grew its stake in shares of Live Nation Entertainment by 797.4% during the 3rd quarter. Accredited Wealth Management LLC now owns 700 shares of the company’s stock valued at $114,000 after purchasing an additional 622 shares during the period. Erste Asset Management GmbH boosted its holdings in shares of Live Nation Entertainment by 5.4% in the third quarter. Erste Asset Management GmbH now owns 1,899 shares of the company’s stock worth $312,000 after buying an additional 98 shares during the last quarter. DNB Asset Management AS grew its position in Live Nation Entertainment by 78.5% during the third quarter. DNB Asset Management AS now owns 52,305 shares of the company’s stock valued at $8,547,000 after buying an additional 22,996 shares during the period. Choreo LLC increased its holdings in Live Nation Entertainment by 25.0% during the third quarter. Choreo LLC now owns 2,683 shares of the company’s stock valued at $438,000 after buying an additional 536 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Live Nation Entertainment by 6.3% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 319,945 shares of the company’s stock worth $52,279,000 after acquiring an additional 18,888 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $161.88 on Tuesday. The firm has a market cap of $38.01 billion, a price-to-earnings ratio of -674.49 and a beta of 1.11. The firm has a fifty day moving average price of $148.41 and a 200 day moving average price of $150.39. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. Evercore reissued an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Wolfe Research lifted their target price on Live Nation Entertainment from $175.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Guggenheim lowered their target price on shares of Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Finally, Wall Street Zen lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.19.

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.