CIBC Asset Management Inc Grows Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

CIBC Asset Management Inc increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,093 shares of the company’s stock after acquiring an additional 1,177 shares during the period. CIBC Asset Management Inc’s holdings in Live Nation Entertainment were worth $3,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pittenger & Anderson Inc. grew its holdings in shares of Live Nation Entertainment by 17.9% during the fourth quarter. Pittenger & Anderson Inc. now owns 40,588 shares of the company’s stock worth $5,256,000 after buying an additional 6,154 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Live Nation Entertainment by 3.3% in the 4th quarter. Sanctuary Advisors LLC now owns 16,780 shares of the company’s stock valued at $2,173,000 after purchasing an additional 532 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after purchasing an additional 105,648 shares in the last quarter. Principal Securities Inc. boosted its holdings in Live Nation Entertainment by 11.9% in the 4th quarter. Principal Securities Inc. now owns 5,701 shares of the company’s stock valued at $738,000 after purchasing an additional 606 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its holdings in Live Nation Entertainment by 1.0% in the 4th quarter. WASHINGTON TRUST Co now owns 122,678 shares of the company’s stock valued at $15,887,000 after purchasing an additional 1,159 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.9 %

Shares of Live Nation Entertainment stock opened at $152.21 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $155.10. The company has a market capitalization of $35.37 billion, a P/E ratio of 161.93, a P/E/G ratio of 1.79 and a beta of 1.38. The business has a 50 day moving average price of $138.96 and a 200 day moving average price of $121.87.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a report on Thursday. Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Finally, TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.47.

Live Nation Entertainment Company 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.