Allspring Global Investments Holdings LLC Increases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Allspring Global Investments Holdings LLC increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 587,912 shares of the company’s stock after acquiring an additional 19,917 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Live Nation Entertainment were worth $62,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Creative Financial Designs Inc. ADV lifted its stake in Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Live Nation Entertainment in the third quarter worth $33,000. Rise Advisors LLC lifted its position in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares during the period. Tobam purchased a new position in Live Nation Entertainment during the fourth quarter valued at $59,000. Finally, SOA Wealth Advisors LLC. lifted its position in Live Nation Entertainment by 238.1% during the first quarter. SOA Wealth Advisors LLC. now owns 852 shares of the company’s stock valued at $90,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LYV. Redburn Atlantic raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price objective for the company from $114.00 to $115.00 in a research report on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and set a $110.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Roth Mkm reissued a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Friday, May 24th. JPMorgan Chase & Co. lowered their price objective on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.58.

Live Nation Entertainment Price Performance

LYV opened at $96.71 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24. The stock has a 50-day moving average price of $93.27 and a 200-day moving average price of $94.45. The firm has a market cap of $22.22 billion, a PE ratio of 92.11, a P/E/G ratio of 1.92 and a beta of 1.34. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the business posted ($0.25) earnings per share. Live Nation Entertainment’s quarterly revenue was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.37 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.