Exchange Traded Concepts LLC Raises Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Exchange Traded Concepts LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 111.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,135 shares of the company’s stock after buying an additional 7,969 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Live Nation Entertainment were worth $1,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LYV. Brooklyn Investment Group purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment in the 3rd quarter worth about $38,000. Reston Wealth Management LLC bought a new position in Live Nation Entertainment in the 3rd quarter worth about $41,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment in the 3rd quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment in the 4th quarter worth about $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 1.1 %

Live Nation Entertainment stock opened at $140.68 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12 month low of $86.67 and a 12 month high of $141.18. The stock’s 50 day simple moving average is $134.60 and its two-hundred day simple moving average is $115.11. The firm has a market cap of $32.69 billion, a PE ratio of 149.66, a P/E/G ratio of 1.61 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Bank of America raised their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Guggenheim raised their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Profile

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.