Massachusetts Financial Services Co. MA Purchases 54,706 Shares of Live Nation Entertainment, Inc. $LYV

Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 2,859,081 shares of the company’s stock after buying an additional 54,706 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Live Nation Entertainment were worth $432,522,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Clearstead Trust LLC grew its holdings in shares of Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after buying an additional 283 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth about $42,000. TD Private Client Wealth LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter valued at about $62,000. Finally, Allworth Financial LP grew its position in Live Nation Entertainment by 48.8% during the 2nd quarter. Allworth Financial LP now owns 448 shares of the company’s stock worth $68,000 after acquiring an additional 147 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LYV. Susquehanna increased their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their price objective for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Finally, Guggenheim cut their target price on Live Nation Entertainment from $182.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.84.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $135.78 on Friday. The company has a 50-day simple moving average of $155.83 and a two-hundred day simple moving average of $151.37. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $31.87 billion, a PE ratio of 58.78, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the prior year, the company posted $1.66 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS 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.