Park Avenue Securities LLC boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,877 shares of the company’s stock after buying an additional 185 shares during the quarter. Park Avenue Securities LLC’s holdings in Live Nation Entertainment were worth $219,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of LYV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Live Nation Entertainment by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company’s stock valued at $2,126,000 after buying an additional 1,120 shares in the last quarter. Raymond James Trust N.A. raised its position in Live Nation Entertainment by 4.3% in the first quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock valued at $369,000 after purchasing an additional 130 shares during the last quarter. Cibc World Market Inc. bought a new position in Live Nation Entertainment in the first quarter valued at about $421,000. Vontobel Holding Ltd. raised its position in Live Nation Entertainment by 31.0% in the first quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company’s stock valued at $279,000 after purchasing an additional 559 shares during the last quarter. Finally, Prudential PLC bought a new position in Live Nation Entertainment in the first quarter valued at about $294,000. 69.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LYV has been the subject of a number of analyst reports. Rosenblatt Securities lowered their price objective on Live Nation Entertainment from $138.00 to $101.00 and set a “buy” rating for the company in a research report on Tuesday, October 18th. StockNews.com upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Jefferies Financial Group lowered their price objective on Live Nation Entertainment from $120.00 to $92.00 in a research report on Thursday, December 8th. The Goldman Sachs Group lowered their price objective on Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Finally, Morgan Stanley lowered their target price on Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, November 30th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.67.
Insiders Place Their Bets
Live Nation Entertainment Stock Performance
NYSE LYV opened at $77.00 on Wednesday. The company has a fifty day simple moving average of $71.47 and a 200 day simple moving average of $80.65. Live Nation Entertainment, Inc. has a 12-month low of $65.05 and a 12-month high of $126.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 12.85. The company has a market cap of $17.78 billion, a P/E ratio of 110.00 and a beta of 1.26.
Live Nation Entertainment (NYSE:LYV – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $4.97 billion. Live Nation Entertainment had a net margin of 2.01% and a return on equity of 1,222.70%. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.53 earnings per share for the current fiscal year.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.
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