21,723 Shares in Live Nation Entertainment, Inc. $LYV Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,723 shares of the company’s stock, valued at approximately $3,978,000.

Several other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after buying an additional 367,624 shares during the period. Independent Franchise Partners LLP grew its holdings in Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after acquiring an additional 193,104 shares in the last quarter. Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the period. Finally, Cantillon Capital Management LLC lifted its position in shares of Live Nation Entertainment by 0.8% in the 4th quarter. Cantillon Capital Management LLC now owns 2,797,205 shares of the company’s stock worth $398,602,000 after purchasing an additional 21,246 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LYV shares. Morgan Stanley lifted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research note on Tuesday, July 28th. UBS Group boosted their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Citizens Jmp increased their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $181.79 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The company has a market cap of $42.84 billion, a PE ratio of -160.88 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50-day simple moving average of $180.00 and a two-hundred day simple moving average of $166.20.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS 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.