Jones Financial Companies Lllp Grows Stake in Live Nation Entertainment, Inc. $LYV

Jones Financial Companies Lllp raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 221.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,895 shares of the company’s stock after purchasing an additional 4,060 shares during the period. Jones Financial Companies Lllp’s holdings in Live Nation Entertainment were worth $954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares during the period. WT Wealth Management purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $1,753,000. Rakuten Investment Management Inc. acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $1,606,000. Seven Grand Managers LLC purchased a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $22,692,000. Finally, EFG Asset Management North America Corp. acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $1,191,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LYV shares. JPMorgan Chase & Co. dropped their price target on shares of Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Finally, Susquehanna upped their target price on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Seventeen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.55.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $151.06 on Thursday. The stock has a 50 day moving average of $143.56 and a two-hundred day moving average of $149.87. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25. The firm has a market cap of $35.46 billion, a P/E ratio of 109.46, a price-to-earnings-growth ratio of 9.86 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41.

Live Nation Entertainment Company 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.